<SEC-DOCUMENT>0000950103-21-011678.txt : 20210802
<SEC-HEADER>0000950103-21-011678.hdr.sgml : 20210802
<ACCEPTANCE-DATETIME>20210802092634
ACCESSION NUMBER:		0000950103-21-011678
CONFORMED SUBMISSION TYPE:	POS AM
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20210802
DATE AS OF CHANGE:		20210802

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Immatics N.V.
		CENTRAL INDEX KEY:			0001809196
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			P7
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		POS AM
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-240260
		FILM NUMBER:		211134932

	BUSINESS ADDRESS:	
		STREET 1:		PAUL EHRLICH-STRASSE 15
		CITY:			TUBINGEN
		STATE:			2M
		ZIP:			72076
		BUSINESS PHONE:		49 7071 5397 700

	MAIL ADDRESS:	
		STREET 1:		PAUL EHRLICH-STRASSE 15
		CITY:			TUBINGEN
		STATE:			2M
		ZIP:			72076

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Immatics B.V.
		DATE OF NAME CHANGE:	20200413
</SEC-HEADER>
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<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>As filed with the Securities and Exchange
Commission on August 2, 2021.</B> </P>

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<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration No. 333-240260 &nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

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<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>POST-EFFECTIVE AMENDMENT NO. 2 TO FORM F-1</B> </P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>ON FORM F-3</B> </P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REGISTRATION STATEMENT UNDER THE SECURITIES
ACT OF 1933</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>Immatics N.V.<BR>
</B></FONT> <FONT STYLE="font-size: 8pt">(Exact name of registrant as specified in its charter)</FONT> </P>

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    <TD STYLE="width: 50%; text-align: center"> <FONT STYLE="font-size: 8pt"><B>The Netherlands</B></FONT> </TD>
    <TD STYLE="width: 1%; text-align: center"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: center"> &nbsp; </TD>
    <TD STYLE="width: 48%; text-align: center"> <FONT STYLE="font-size: 8pt"><B>Not Applicable</B></FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"> <FONT STYLE="font-size: 8pt">(State or other jurisdiction of incorporation or organization)</FONT> </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-size: 8pt">(I.R.S. Employer Identification Number)</FONT> </TD></TR>
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<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>Paul-Ehrlich-Stra&szlig;e 15<BR>
72076 T&uuml;bingen, Federal Republic of Germany<BR>
+49 (7071) 5397-0<BR>
</B>(Address and telephone number of registrant&rsquo;s principal executive offices) </P>

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<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>Edward A. Sturchio<BR>
Immatics US, Inc.<BR>
2130 W. Holcombe Blvd., Suite 900<BR>
Houston, Texas 77030<BR>
(281) 810-7545<BR>
</B>(Name, address and telephone number of agent for service) </P>

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<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B><I>Copies to:</I></B> </P>

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    <TD STYLE="width: 100%; font-size: 10pt; text-align: center"> <FONT STYLE="font-size: 8pt"><B>Deanna L. Kirkpatrick <BR>
    Yasin Keshvargar <BR>
    Davis Polk &amp; Wardwell LLP <BR>
    450 Lexington Avenue <BR>
    New York, NY 10017 <BR>
    (212) 450-4000</B></FONT> </TD></TR>
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<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Approximate date of commencement of proposed sale to the public:
</B>From time to time after the effectiveness of this registration statement. </P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0"> If only securities being registered on this Form are being offered
pursuant to dividend or interest reinvestment plans, please check the following box. <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT>&nbsp; </P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">If any of the securities being registered on this Form are to be offered
on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box. &thinsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9746;</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">If this Form is filed to register additional securities for an offering
pursuant to Rule 462(b) under the Securities Act, check the following box and list the Securities Act registration statement number of
the earlier effective registration statement for the same offering. &thinsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT>&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">If this Form is a post-effective amendment filed pursuant to Rule 462(c)
under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration
statement for the same offering. &thinsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0"> If this Form is a registration statement pursuant to General Instruction
I.C. or a post-effective amendment thereto that shall become effective upon filing with the Commission pursuant to Rule 462(e) under
the Securities Act, check the following box. <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT>&nbsp; </P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">If this Form is a post-effective amendment to a registration statement
filed pursuant to General Instruction I.C. filed to register additional securities or additional classes of securities pursuant to Rule
413(b) under the Securities Act, check the following box. <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933. Emerging growth company&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9746;</FONT>&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">If an emerging growth company that prepares its financial statements
in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards&dagger; provided pursuant to Section 7(a)(2)(B) of the Securities Act.&nbsp;&thinsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">&dagger; The term &ldquo;new or revised financial accounting standard&rdquo;
refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April&nbsp;5,
2012.&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"> <B>The registrant hereby amends this registration
statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment which
specifically states that this registration statement shall thereafter become effective in accordance with Section&nbsp;8(a) of the Securities
Act, or until the registration statement shall become effective on such date as the Securities and Exchange Commission, acting pursuant
to said Section&nbsp;8(a), may determine.</B> </P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXPLANATORY NOTE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"> On July 31, 2020, the Registrant filed
a Registration Statement on Form F-1 (File No. 333-240260), which was declared effective by the U.S. Securities and Exchange Commission
(the &ldquo;SEC&rdquo;) on August 13, 2020. The Registrant is filing this post-effective amendment to Form F-1 on Form F-3 to convert
the Registration Statement on Form F-1 into a Registration Statement on Form F-3. No additional securities are being registered by this
post-effective amendment. All applicable registration fees were paid at the time of the original filing of the Registration Statement
on Form F-1. </P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: red"> <B>The information in this prospectus is not complete
and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission
is effective. This prospectus is not an offer to sell these securities and is not soliciting an offer to buy these securities in any
state where the offer or sale is not permitted.</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: red"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: red"> <B>SUBJECT TO COMPLETION, DATED
AUGUST 2, 2021</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: red">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="image_001.jpg" ALT="Downloads | Immatics N.V." STYLE="height: 94px; width: 254px"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 20pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>IMMATICS N.V.</B></P>

<P STYLE="font: 20pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"> <B>39,332,281 Ordinary
Shares</B> </P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">This prospectus relates to the offer and sale
from time to time by the selling securityholders or their permitted transferees (collectively, the &ldquo;selling securityholders&rdquo;)
of up to 39,332,281 of our ordinary shares, &euro;0.01 nominal value per share. This prospectus also covers any additional securities
that may become issuable by reason of share splits, share dividends or other similar transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">The shares covered by this prospectus include
(i) 28,917,281 ordinary shares issued to certain selling securityholders in connection with the closing of the business combination between
us, ARYA Sciences Acquisition Corp., a Cayman Islands exempted company, Immatics Biotechnologies GmbH, a German limited liability company,
Immatics Merger Sub 1, a Cayman Islands exempted company, and Immatics Merger Sub 2, a Cayman Islands exempted company, and (ii) 10,415,000
ordinary shares issued to certain securityholders in a private placement offering, both of which closed on July&nbsp;1, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"> We are registering the offer and sale
of the securities described above to satisfy certain registration rights we have granted. We are registering these securities for resale
by the selling securityholders named in this prospectus, or their transferees, pledgees, donees or assignees or other successors-in-interest
that receive any of the shares as a gift, distribution, or other non-sale related transfer. The selling securityholders may offer all
or part of the securities for resale from time to time through public or private transactions, at either prevailing market prices or
at privately negotiated prices. These securities are being registered to permit the selling securityholders to sell securities from time
to time, in amounts, at prices and on terms determined at the time of offering. The selling securityholders may sell these securities
through ordinary brokerage transactions, directly to market makers of our ordinary shares or through any other means described in the
section titled &ldquo;Plan of Distribution.&rdquo; In connection with any sales of ordinary shares offered hereunder, the selling securityholders,
any underwriters, agents, brokers or dealers participating in such sales may be deemed to be &ldquo;underwriters&rdquo; within the meaning
of the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;). </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">All of the ordinary shares offered by the
selling securityholders pursuant to this prospectus will be sold by the selling securityholders for their respective accounts. We will
not receive any of the proceeds from such sales. We will pay certain expenses associated with the registration of the securities covered
by this prospectus, as described in the section titled &ldquo;Plan of Distribution.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"> Our ordinary shares are listed on The
Nasdaq Stock Market LLC (&ldquo;Nasdaq&rdquo;) under the symbol &ldquo;IMTX&rdquo;. On July 29, 2021, the last reported sale price of
our ordinary shares as reported on Nasdaq was $12.17 per share. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"> We may amend or supplement this prospectus
from time to time by filing amendments or supplements as required. You should read this entire prospectus and any amendments or supplements
carefully before you make your investment decision. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> We are an &ldquo;emerging growth company&rdquo; as defined under
U.S. federal securities laws and, as such, may elect to comply with reduced public company reporting requirements for this and future
filings. See &ldquo;Prospectus Summary&mdash;Our Company&mdash;Implications of Being an Emerging Growth Company.&rdquo; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Investing in our securities involves a high degree of risk.
See the &ldquo;Risk Factors&rdquo; section beginning on page 6 of this prospectus and, if applicable, any risk factors described in any
applicable prospectus supplement and in our Securities and Exchange Commission (&ldquo;SEC&rdquo;) filings that are incorporated by reference
in this prospectus.</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Neither the Securities and Exchange Commission nor any state
securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation
to the contrary is a criminal offense.</B> <B> </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Prospectus dated &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="toc"></A>TABLE OF CONTENTS</B></P>

<TABLE CELLSPACING="0" CELLPADDING="2" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; width: 89%"> <A HREF="#about">ABOUT THIS PROSPECTUS</A> </TD>
    <TD STYLE="text-align: right; white-space: nowrap; width: 11%"> 1 </TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap"> <A HREF="#prospectus">PROSPECTUS SUMMARY</A> </TD>
    <TD STYLE="text-align: right; white-space: nowrap"> 3 </TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap"> <A HREF="#risk">RISK FACTORS</A> </TD>
    <TD STYLE="text-align: right; white-space: nowrap"> 6 </TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap"> <A HREF="#cautionary">CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS</A> </TD>
    <TD STYLE="text-align: right; white-space: nowrap"> 7 </TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap"> <A HREF="#use">USE OF PROCEEDS</A> </TD>
    <TD STYLE="text-align: right; white-space: nowrap"> 8 </TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap"> <A HREF="#dividend">DIVIDEND POLICY</A> </TD>
    <TD STYLE="text-align: right; white-space: nowrap"> 9 </TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap"> <A HREF="#description">DESCRIPTION OF SHARE CAPITAL AND ARTICLES OF ASSOCIATION</A> </TD>
    <TD STYLE="text-align: right; white-space: nowrap"> 10 </TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap"> <A HREF="#selling">SELLING SECURITYHOLDERS</A> </TD>
    <TD STYLE="text-align: right; white-space: nowrap"> 17 </TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap"> <A HREF="#plan">PLAN OF DISTRIBUTION</A> </TD>
    <TD STYLE="text-align: right; white-space: nowrap"> 19 </TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap"> <A HREF="#taxation">TAXATION</A> </TD>
    <TD STYLE="text-align: right; white-space: nowrap"> 22 </TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap"> <A HREF="#expenses">EXPENSES OF THE OFFERING</A> </TD>
    <TD STYLE="text-align: right; white-space: nowrap"> 36 </TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap"> <A HREF="#legal">LEGAL MATTERS</A> </TD>
    <TD STYLE="text-align: right; white-space: nowrap"> 37 </TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap"> <A HREF="#experts">EXPERTS</A> </TD>
    <TD STYLE="text-align: right; white-space: nowrap"> 37 </TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap"> <A HREF="#enforcement">ENFORCEMENT OF JUDGMENTS</A> </TD>
    <TD STYLE="text-align: right; white-space: nowrap"> 38 </TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap"> <A HREF="#where">WHERE YOU CAN FIND MORE INFORMATION</A> </TD>
    <TD STYLE="text-align: right; white-space: nowrap"> 39 </TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap"> <A HREF="#information">INFORMATION INCORPORATED BY REFERENCE</A> </TD>
    <TD STYLE="text-align: right; white-space: nowrap"> 40 </TD></TR>
  </TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A HREF="#a_Toc78291463"></A></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">i</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="about"></A> ABOUT THIS PROSPECTUS </P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Before buying any of the securities that the selling securityholders
are offering, you should carefully read both this prospectus and any prospectus supplement with all of the information incorporated by
reference in this prospectus, as well as the additional information described under the heading &ldquo;Where You Can Find More Information&rdquo;
and &ldquo;Information Incorporated by Reference.&rdquo; These documents contain important information that you should consider when
making your investment decision. We have filed or incorporated by reference exhibits to the registration statement of which this prospectus
forms a part. You should read the exhibits carefully for provisions that may be important to you. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> To the extent there is a conflict between the information contained
in this prospectus, on the one hand, and the information contained in any prospectus supplement or in any document incorporated by reference
in this prospectus, on the other hand, you should rely on the information in this prospectus, provided that if any statement in one of
these documents is inconsistent with a statement in another document having a later date&mdash;for example, a prospectus supplement or
a document incorporated by reference in this prospectus&mdash;the statement in the document having the later date modifies or supersedes
the earlier statement. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> The information contained in this prospectus, any applicable prospectus
supplement or any document incorporated by reference in this prospectus is accurate only as of their respective dates, regardless of
the time of delivery of this prospectus, any applicable prospectus supplement or the documents incorporated by reference in this prospectus
or the sale of any securities. Our business, financial condition, results of operations and prospects may have changed materially since
those dates. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Neither we nor any securityholder have authorized anyone to provide
you with information that is different from that contained in this prospectus, any amendment or supplement to this prospectus, or any
free writing prospectus we may authorize to be delivered or made available to you. Neither we nor any securityholder take responsibility
for, or provide assurance as to the reliability of, any other information that others may give you. This prospectus does not constitute
an offer to sell or the solicitation of an offer to buy any securities other than the securities described in this prospectus or an offer
to sell or the solicitation of an offer to buy such securities in any circumstances in which such offer or solicitation is unlawful. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> For investors outside the United States: Neither we nor any securityholder
have taken any action that would permit the offering or possession or distribution of this prospectus in any jurisdiction where action
for that purpose is required, other than in the United States. Persons outside the United States who come into possession of this prospectus
must inform themselves about, and observe any restrictions relating to, the offering of the securities described herein and the distribution
of this prospectus outside the United States. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Unless otherwise indicated or the context otherwise requires, (i)
all references to the &ldquo;company,&rdquo; &ldquo;we,&rdquo; &ldquo;our&rdquo; or &ldquo;us&rdquo; or similar terms refer to Immatics
N.V., together with its subsidiaries, including Immatics Biotechnologies GmbH; (ii) references to &ldquo;Immatics&rdquo; refer solely
to Immatics N.V.; and (iii)&nbsp;references to &ldquo;Immatics OpCo&rdquo; refer solely to Immatics Biotechnologies GmbH. Immatics N.V.
is a Dutch public limited liability company (<I>naamloze vennootschap</I>) incorporated on March&nbsp;10, 2020 and the holding company
of Immatics Biotechnologies GmbH, a German biopharmaceutical company incorporated in 2000 focused on the development of T cell receptor-based
immunotherapies for the treatment of cancer. Immatics Biotechnologies GmbH holds all material assets and conducts all business activities
and operations of Immatics N.V. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Trademarks </P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> We own various trademark registrations and applications, and unregistered
trademarks, including Immatics<SUP>&reg;</SUP>, XPRESIDENT<SUP>&reg;</SUP>, ACTengine<SUP>&reg;</SUP>, ACTallo<SUP>&reg;</SUP>, ACTolog<SUP>&reg;</SUP>,
XCEPTOR<SUP>&trade;</SUP>, TCER<SUP>&trade;</SUP>, AbsQuant<SUP>&trade;</SUP>, IMADetect<SUP>&trade;</SUP> and our corporate logo. All
other trade names, trademarks and service marks of other companies appearing in this prospectus are the property of their respective
owners. Solely for convenience, the trademarks and trade names in this prospectus may be referred to without the <SUP>&reg;</SUP> and
&trade; symbols, but such references should not be construed as any indicator that their respective owners will not assert, to the fullest
extent under applicable law, their rights thereto. We do not intend to use or display other companies&rsquo; trademarks and trade names
to imply a relationship with, or endorsement or sponsorship of us by, any other companies. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Presentation of Financial Information </P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Our consolidated financial statements are presented in euros and
have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards
Board (&ldquo;IFRS&rdquo;). None of the consolidated financial statements were prepared in accordance with generally accepted accounting
principles in the United States (&ldquo;U.S. GAAP&rdquo;). The terms &ldquo;dollar,&rdquo; &ldquo;USD&rdquo; or &ldquo;$&rdquo; refer
to the U.S. dollar and the term &ldquo;euro,&rdquo; &ldquo;EUR&rdquo; or &ldquo;&euro;&rdquo; refer to the euro, unless otherwise indicated.
The exchange rate used for conversion between U.S. dollars and euros is based on the ECB euro reference exchange rate published by the
European Central Bank. We have made rounding adjustments to some of the figures included in this prospectus. Accordingly, any numerical
discrepancies in any table between totals and sums of the amounts listed are due to rounding. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>Market and Industry Data</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> This prospectus contains industry, market and competitive position
data that are based on general and industry publications, surveys and studies conducted by third parties, some of which may not be publicly
available, and our own internal estimates and research. Third-party publications, surveys and studies generally state that they have
obtained information from sources believed to be reliable, but do not guarantee the accuracy and completeness of such information. These
data involve a number of assumptions and limitations and contain projections and estimates of the future performance of the industries
in which we operate that are subject to a high degree of uncertainty. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="prospectus"></A>PROSPECTUS SUMMARY</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <I>This summary highlights information contained elsewhere in this
prospectus or incorporated by reference in this prospectus. This summary may not contain all the information that may be important to
you, and we urge you to read this entire prospectus and the documents incorporated by reference in this prospectus carefully before deciding
to invest in our securities.</I> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our Company</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Overview </P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> We are a clinical-stage biotechnology company dedicated to the
development of T cell receptor (&ldquo;TCR&rdquo;)-based immunotherapies for the treatment of cancer. Our focus is the generation of
novel therapeutic options for solid tumor patients. Solid tumors constitute the majority of all cancers, and relapsed and/or refractory
solid tumor patients have an unmet medical need. We believe that by identifying true cancer targets and the right TCRs, we will be well-positioned
to transform current solid tumor treatment paradigms by delivering cellular and bispecific product candidates that have the potential
to improve the lives of cancer patients. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">One of the challenges of effectively treating solid tumors is the lack
of cancer-specific targets. By utilizing TCR-based therapeutics, we are capable of directing T cells not only to targets on the surface
of the cancer cell, but also to intracellular cancer targets that are not accessible through classical antibody-based or CAR-T therapies.
We have developed a suite of proprietary technologies to identify what we refer to as &ldquo;true targets&rdquo; and &ldquo;right TCRs.&rdquo;
True targets are (i) naturally occurring at significant levels on native tumor tissue and (ii) highly specific to cancer cells. Right
TCRs are (i) high-affinity TCRs and (ii) highly specific to the respective cancer target, with no or minimized cross-reactivities to healthy
tissues.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> We believe that the elucidation of these targets provides us the
opportunity to develop a pipeline of novel TCR-based product candidates that generate a meaningful therapeutic impact on the lives of
cancer patients by going beyond an incremental clinical benefit. We are developing our targeted immunotherapy product candidates through
two distinct treatment modalities: Adoptive Cell Therapies (&ldquo;ACT&rdquo;) and antibody-like Bispecifics. Each is designed with distinct
attributes to produce the desired therapeutic effect for patients at different disease stages and with different types of tumors. Our
current proprietary pipeline comprises seven therapeutic programs, three of which are being evaluated in clinical trials. In addition,
we are collaborating with world-leading partners, including Amgen Inc., Genmab A/S, Bristol-Myers Squibb and GlaxoSmithKline plc, to
develop ten additional therapeutic programs covering ACT and Bispecifics. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Company and Corporate Information </P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We were incorporated as a Dutch private limited liability company (<I>besloten
vennootschap met beperkte aansprakelijkheid</I>) under the name Immatics B.V. on March&nbsp;10, 2020 solely for the purpose of effectuating
the business combination (the &ldquo;Business Combination&rdquo;) between us, ARYA Sciences Acquisition Corp., a Cayman Islands exempted
company (&ldquo;ARYA&rdquo;), Immatics Biotechnologies GmbH, a German limited liability company, Immatics Merger Sub 1, a Cayman Islands
exempted company, and Immatics Merger Sub 2, a Cayman Islands exempted company. Upon the closing of the Business Combination on July&nbsp;1,
2020, we converted into a Dutch public limited liability company (<I>naamloze vennootschap</I>) and changed our name to Immatics N.V.
Prior to the Business Combination, we did not conduct any material activities other than those incident to our formation and certain matters
related to the Business Combination, such as the making of certain required securities law filings and the establishment of subsidiaries
to effect the Business Combination. Upon the closing of the Business Combination, Immatics OpCo became the direct, wholly owned subsidiary
of Immatics, and holds all material assets and conducts all business activities and operations of Immatics.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> We are registered in the Commercial Register of the Chamber of
Commerce (<I>Kamer van Koophandel</I>) in the Netherlands under number 77595726. We have our corporate seat in Amsterdam, the Netherlands
and our registered office is at Paul-Ehrlich-Stra&szlig;e 15, 72076 T&uuml;bingen, Federal Republic of Germany, and our telephone number
is +49 (7071)&nbsp;5397-0.&nbsp;Our executive office in the United States is located at Immatics US, Inc., 2130 W. Holcombe Boulevard,
Houston, Texas, 77030 and our telephone number is +1 (346)&nbsp;204-5400. Our website is <I>www.immatics.com</I>. The reference to our
website is an inactive textual reference only, and information contained therein or connected thereto is not incorporated into this prospectus
or the registration statement of which it forms a part. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Implications of Being an Emerging Growth Company</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> We qualify as an &ldquo;emerging growth company&rdquo; as defined
in the Jumpstart our Business Startups Act of 2012 (the &ldquo;JOBS Act&rdquo;). As an emerging growth company, we may take advantage
of specified reduced reporting and other burdens that are otherwise applicable generally to public companies. These provisions include: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> a requirement to
                                            have only two years of audited financial statements in addition to any required interim financial
                                            statements and correspondingly reduced Management&rsquo;s Discussion and Analysis of Financial
                                            Condition and Results of Operations disclosure; </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>an exemption from the auditor attestation requirement in the assessment of our internal control over financial reporting pursuant
to Section 404 of the Sarbanes-Oxley Act of 2002 (the &ldquo;Sarbanes-Oxley Act&rdquo;); and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>to the extent that we no longer qualify as a foreign private issuer, (i)&nbsp;reduced disclosure obligations regarding executive compensation
in our periodic reports and proxy statements and (ii)&nbsp;exemptions from the requirements of holding a non-binding advisory vote on
executive compensation, including golden parachute compensation.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> We may take advantage of these provisions for up to five years
or such earlier time that we are no longer an emerging growth company. We will remain an emerging growth company until the earliest of
(i)&nbsp;the last day of the fiscal year in which we have total annual gross revenues of $1.07&nbsp;billion or more; (ii)&nbsp;December
31, 2025; (iii)&nbsp;the date on which we have issued more than $1.0&nbsp;billion in non-convertible debt during the previous three years;
and (iv)&nbsp;the date on which we are deemed to be a large accelerated filer under the rules of the SEC, which means the market value
of our ordinary shares that are held by non-affiliates equals or exceeds $700.0&nbsp;million as of the prior June 30. We may choose to
take advantage of some but not all of these reduced burdens. For example, Section 107 of the JOBS Act also provides that an emerging
growth company can take advantage of an extended transition period for complying with new or revised accounting standards applicable
to public companies. This provision allows an emerging growth company to delay the adoption of certain accounting standards until those
standards would otherwise apply to private companies. This transition period is only applicable under U.S. GAAP. As a result, we will
adopt new or revised accounting standards on the relevant dates on which adoption of such standards is required or permitted by the International
Accounting Standards Board. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Implications of Being a Foreign Private Issuer</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> We are also considered a &ldquo;foreign private issuer.&rdquo;
Accordingly, we report under the Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;), as a non-U.S. company with foreign
private issuer status. This means that, even after we no longer qualify as an emerging growth company, as long as we qualify as a foreign
private issuer under the Exchange Act, we will be exempt from certain provisions of the Exchange Act that are applicable to U.S. domestic
public companies, including: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the sections of the Exchange Act regulating the solicitation of proxies, consents or authorizations in respect of a security registered
under the Exchange Act;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the sections of the Exchange Act requiring insiders to file public reports of their stock ownership and trading activities and liability
for insiders who profit from trades made in a short period of time; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the rules under the Exchange Act requiring the filing with the SEC of quarterly reports on Form 10-Q containing unaudited financial
and other specified information, or current reports on Form 8-K, upon the occurrence of specified significant events.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We may take advantage of these exemptions until such time as we are
no longer a foreign private issuer. We would cease to be a foreign private issuer at such time as more than 50% of our outstanding voting
securities are held by U.S. residents and any of the following three circumstances applies: (i)&nbsp;the majority of our executive officers
or directors are U.S. citizens or residents, (ii)&nbsp;more than 50% of our assets are located in the United States or (iii)&nbsp;our
business is administered principally in the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> In this prospectus and in the documents incorporated by reference
in this prospectus, we have taken advantage of certain of the reduced reporting requirements as a result of being an emerging growth
company and a foreign private issuer. Accordingly, the information contained in this prospectus and in the documents incorporated by
reference in this prospectus may be different than the information you receive from other public companies in which you hold equity securities. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1pt; text-align: center"><A NAME="offering"></A><B>THE OFFERING </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1pt; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 38%; font-size: 10pt"> Ordinary shares that may be offered and sold from time to time by the selling securityholders </TD>
    <TD STYLE="padding-left: 0.25in; width: 62%; font-size: 10pt"><P STYLE="margin-top: 0; margin-bottom: 0"> 39,332,281 ordinary shares </P>
                                                                  <P STYLE="margin-top: 0; margin-bottom: 0"> &nbsp; </P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="padding-left: 0.25in; font-size: 10pt"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"> Offering price </TD>
    <TD STYLE="padding-left: 0.25in; font-size: 10pt"> The ordinary shares offered by this prospectus may be offered and sold at prevailing
    market prices, privately negotiated prices or such other prices as the selling securityholders may determine. See the section titled
    &ldquo;Plan of Distribution.&rdquo; </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="padding-left: 0.25in; font-size: 10pt"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"> Use of proceeds </TD>
    <TD STYLE="padding-left: 0.25in; font-size: 10pt"> All of the ordinary shares offered by the selling securityholders pursuant to
    this prospectus will be sold by the selling securityholders for their respective accounts. We will not receive any of the proceeds
    from such sales. </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="padding-left: 0.25in; font-size: 10pt"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"> Risk factors </TD>
    <TD STYLE="padding-left: 0.25in; font-size: 10pt"> Investing in our ordinary shares involves a high degree of risk. See the &ldquo;Risk
    Factors&rdquo; section beginning on page 6 of this prospectus and in the documents incorporated by reference in this prospectus for
    a discussion of factors you should consider before deciding to invest in our ordinary shares. </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="padding-left: 0.25in; font-size: 10pt"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"> Nasdaq symbol </TD>
    <TD STYLE="padding-left: 0.25in; font-size: 10pt"> &ldquo;IMTX&rdquo; </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="padding-left: 0.25in; font-size: 10pt"> &nbsp; </TD></TR>
  </TABLE>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="risk"></A>RISK FACTORS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <I>Investing in our securities involves risk. Before making a decision
to invest in our securities, you should carefully consider the following risks and in our then-most recent Annual Report on Form 20-F,
and any updates to those risk factors in our reports on Form 6-K incorporated by reference in this prospectus, together with all of the
other information appearing or incorporated by reference in this prospectus, in light of your particular investment objectives and financial
circumstances. Although we discuss key risks in our discussion of risk factors, new risks may emerge in the future, which may prove to
be significant. We cannot predict future risks or estimate the extent to which they may affect our business, results of operations, financial
condition and prospects.</I> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"> You may experience immediate and substantial dilution
in the book value of your investment. </P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> If you purchase our ordinary shares in this offering made pursuant
to this prospectus, you will experience immediate dilution in an amount equal to the difference between the purchase price per share
and our then-net tangible book value per ordinary share. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"> If a United States person is treated as owning at least
10% of our ordinary shares, such United States person may be subject to adverse U.S. federal income tax consequences. </P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> For U.S. federal income tax purposes, if a United States person
is treated as owning (directly, indirectly or constructively) 10% or more of our stock by vote or value, such U.S. holder will be treated
as a &ldquo;United States shareholder&rdquo; with respect to each &ldquo;controlled foreign corporation&rdquo; in our group (if any).
Because our group includes at least one U.S. subsidiary, our non-U.S. subsidiaries and any non-U.S. subsidiaries we form or acquire in
the future will generally be treated as controlled foreign corporations. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> A United States shareholder of a controlled foreign corporation
will be required to report annually and include in its U.S. federal taxable income its <I>pro rata</I> share of &ldquo;subpart F income,&rdquo;
&ldquo;global intangible low-taxed income&rdquo; and investments in U.S. property by the controlled foreign corporation, regardless of
whether it makes any distributions of that income. Special rules, however, apply to United States persons that are partnerships or other
pass-through entities. Certain deductions and credits for foreign income taxes paid or accrued by the controlled foreign corporation
may be allowed to a corporate United States shareholder, but will not be allowed to an individual United States shareholder. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> There can be no assurance that we will furnish to any United States
shareholder the information required to comply with the obligations applicable to a United States shareholder in respect of controlled
foreign corporations. Failure to comply with these obligations may subject a United States shareholder of a controlled foreign corporation
to significant monetary penalties and may prevent the statute of limitations with respect to its U.S. federal income tax return for the
year for which reporting was due from starting. Beneficial owners of 10% or more of our ordinary shares that are United States persons
should consult their tax advisors regarding the potential application of these rules to their investment in our ordinary shares. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="cautionary"></A> CAUTIONARY STATEMENT
REGARDING FORWARD-LOOKING STATEMENTS </P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> This prospectus and the documents incorporated by reference in
this prospectus contain statements that constitute forward-looking statements within the meaning of Section 21E of the Exchange Act and
Section 27A of the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;). All statements other than statements of historical
facts, including statements regarding our future results of operations and financial position, business and commercial strategy, potential
market opportunities, products and product candidates, research pipeline, ongoing and planned preclinical studies and clinical trials,
regulatory submissions and approvals, research and development costs, timing and likelihood of success, as well as plans and objectives
of management for future operations are forward-looking statements. Many of the forward-looking statements contained in this prospectus
can be identified by the use of forward-looking words such as &ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo; &ldquo;could,&rdquo; &ldquo;expect,&rdquo;
&ldquo;should,&rdquo; &ldquo;plan,&rdquo; &ldquo;intend,&rdquo; &ldquo;estimate,&rdquo; &ldquo;will&rdquo; and &ldquo;potential,&rdquo;
among others. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Forward-looking statements are based on our management&rsquo;s
beliefs and assumptions and on information available to our management at the time such statements are made. Such statements are subject
to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements
due to various factors, including, but not limited to, those identified under the &ldquo;Risk Factors&rdquo; section of this prospectus
and in the documents incorporated by reference in this prospectus. Forward-looking statements speak only as of the date on which they
were made. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or
quantified and some of which are beyond our control, you should not rely on these forward-looking statements as predictions of future
events. Moreover, we operate in an evolving environment. New risk factors and uncertainties may emerge from time to time, and it is not
possible for management to predict all risk factors and uncertainties. Except as required by applicable law, we do not plan to publicly
update or revise any forward-looking statements, whether as a result of any new information, future events, changed circumstances or
otherwise. You should read this prospectus, the documents incorporated by reference in this prospectus and the documents that we have
filed as exhibits to the registration statement of which this prospectus is a part completely and with the understanding that our actual
future results may be materially different from what we expect. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> In addition, statements that &ldquo;we believe&rdquo; and similar
statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of
the date of such statements, and while we believe such information forms a reasonable basis for such statements, such information may
be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review
of, all potentially available relevant information. These statements are inherently uncertain and investors are cautioned not to unduly
rely upon these statements. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="use"></A>USE OF PROCEEDS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">All of the ordinary shares offered by the selling securityholders pursuant
to this prospectus will be sold by the selling securityholders for their respective accounts. We will not receive any of the proceeds
from such sales. We will pay certain expenses associated with the registration of the securities covered by this prospectus, as described
in the section titled &ldquo;Plan of Distribution.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="dividend"></A>DIVIDEND POLICY</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> We have never declared or paid any cash dividends and have no plan
to declare or pay any dividends on our ordinary shares in the foreseeable future. We currently intend to retain any earnings for future
operations and expansion of our business. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> We will be able to make distributions to our shareholders only
to the extent that our equity exceeds the aggregate amount of issued share capital and reserves that must be maintained pursuant to Dutch
law or under our articles of association. We may not make any distribution of profits on shares held as treasury shares and such treasury
shares will not be taken into account when determining the profit entitlement of our shareholders. Our articles of association prescribe
that profits in any financial year will be distributed first to holders of our financing preferred shares, if any are outstanding. Any
remaining profits may be reserved by our board of directors. Any profits remaining thereafter and reserves may be distributed as dividends
to the holders of our ordinary shares, subject to the appropriate record date. The general meeting is authorized to declare distributions
upon the proposal of our board of directors. Our board of directors determines whether and how much of the profits shown in the adopted
annual accounts will be reserved and the manner and date of any dividend. In addition, our board of directors is permitted, subject to
certain requirements, to declare interim dividends without the approval of our shareholders. We may reclaim any distributions, whether
interim or not interim, made in contravention of certain restrictions of Dutch law from shareholders that knew or should have known that
such distribution was not permissible. In addition, on the basis of Dutch case law, if after a distribution we are not able to pay our
due and collectable debts, then our shareholders or directors who at the time of the distribution knew or reasonably should have foreseen
that result may be liable to our creditors. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Since we are a holding company, our ability to pay dividends will be
dependent upon the financial condition, liquidity and results of operations of, and the receipt of dividends, loans or other funds from,
our subsidiaries. Our subsidiaries are separate and distinct legal entities and have no obligation to make funds available to us. In addition,
there are various statutory, regulatory and contractual limitations and business considerations on the extent, if any, to which our subsidiaries
may pay dividends, make loans or otherwise provide funds to us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="description"></A> DESCRIPTION
OF SHARE CAPITAL AND ARTICLES OF ASSOCIATION </P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> &nbsp; </P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"> The Company </P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> We were incorporated on March&nbsp;10, 2020 as a private limited
liability company (<I>besloten vennootschap met beperkte aansprakelijkheid) </I>under Dutch law, and upon the consummation of the Business
Combination, we converted into a Dutch public limited liability company (<I>naamloze vennootschap</I>). </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> We are registered in the Commercial Register of the Chamber of
Commerce (<I>Kamer van Koophandel</I>) in the Netherlands under number 77595726. We have our corporate seat is in Amsterdam, the Netherlands
and our registered office is at Paul-Ehrlich-Stra&szlig;e 15, 72076 T&uuml;bingen, Federal Republic of Germany. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Share Capital</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Authorized Share Capital</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Our authorized share capital consists of 285,000,000 ordinary shares,
nominal value of &euro;0.01 per share, and 15,000,000 financing preferred shares. The financing preferred shares are divided into five
series, each consisting of 3,000,000 financing preferred shares. As of June 30, 2021, there were 62,909,231 ordinary shares outstanding
and no financing preferred shares outstanding. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> The financing preferred shares may, at the request of the holder,
be converted into ordinary shares pursuant to a resolution of our board of directors. The conditions for conversion and the further terms
and conditions related to the financing preferred shares will be determined by our board of directors, our general meeting and the meeting
of holders of the series of financing preferred shares concerned, if such series of financing preferred shares has been issued and are
held by persons other than us. The preceding sentence applies by analogy to any adjustment to the conditions. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Issuance of Ordinary Shares</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Under Dutch law, shares are issued and rights to subscribe for
shares are granted pursuant to a resolution of our general meeting. Our articles of association provide that the general meeting may
only resolve to issue shares upon the proposal of our board of directors. The general meeting may authorize our board of directors to
issue new ordinary shares or grant rights to subscribe for ordinary shares. The authorization can be granted and extended, in each case
for a period not exceeding five years. For as long as, and to the extent, that such authorization is effective, our general meeting will
not have the power to issue ordinary shares. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Pursuant to a resolution of the general meeting dated June 30,
2020, our board of directors is irrevocably authorized to for a period of five years from July 1, 2020, to issue ordinary shares or financing
preferred shares up to the amount of the authorized share capital (from time to time). </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Preemptive Rights</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Subject to restrictions in our articles of association, holders of
ordinary shares have preemptive rights in relation to newly issued ordinary shares under Dutch law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Under our articles of association, the preemptive rights in respect
of newly issued ordinary shares may be restricted or excluded by a resolution of our general meeting, which resolution requires a two-thirds
majority of the votes cast if less than half of the issued share capital is present or represented at the meeting. The general meeting
may authorize our board of directors to limit or exclude the preemptive rights in respect of newly issued ordinary shares. Such authorization
for our board of directors can be granted and extended, in each case for a period not exceeding five years. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Pursuant to a resolution of the general meeting dated June 30,
2020, our board of directors is irrevocably authorized for a period of five years from July 1, 2020 to limit or exclude preemptive rights
on ordinary shares up to 100% of the number of ordinary shares in our authorized share capital (from time to time). </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Preemptive rights do not exist with respect to (a) the issuance
of ordinary shares or grant of rights to subscribe for ordinary shares to our employees or a &ldquo;group&rdquo; company of ours, and
(b) the issuance of ordinary shares against a contribution in kind. Preemptive rights do not exist with respect to the issuance of financing
preferred shares and holders of financing preferred shares have no preemptive right to acquire newly issued ordinary shares. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Transfer of Ordinary Shares</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under Dutch law, transfers of ordinary shares (other than in book-entry
form) require a written deed of transfer and, unless the company is a party to the deed of transfer, and acknowledgement by or proper
service upon the company to be effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Under our articles of association, if one or more ordinary shares
are admitted to trading on Nasdaq or any other regulated foreign stock exchange located in the United States, we may, by resolution of
our board of directors, determine that the laws of the State of New York will apply to the property law aspects of the ordinary shares
included in the part of the register of shareholders kept by the relevant transfer agent. Such resolution, as well as the revocation
thereof, will be made public as required by law and will be made available for inspection at our office and the Dutch trade register.
Our management has adopted such resolution effective as of the July 1, 2020. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Form of Ordinary Shares</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to our articles of association, the ordinary shares are registered
shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Purchase and Repurchase of Ordinary Shares</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under Dutch law, we may not subscribe for newly issued ordinary shares.
We may acquire ordinary shares, subject to applicable provisions and restrictions of Dutch law and our articles of association, to the
extent that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>such ordinary shares are fully paid up;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>such repurchase would not cause our shareholders&rsquo; equity to fall below an amount equal to the sum of the paid-up and called-up
part of the issued share capital and the reserves we are required to maintain pursuant to Dutch law or our articles of association; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>immediately after the acquisition of such ordinary shares, we and our subsidiaries would not hold, or would not hold as pledgees,
shares having an aggregate nominal value that exceeds 50% of our issued share capital.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Other than ordinary shares acquired for no valuable consideration
or under universal title of succession (<I>onder algemene titel</I>) (e.g., through a merger or spin-off) under statutory Dutch or other
law, we may acquire ordinary shares only if our general meeting has authorized our board of directors to acquire ordinary shares. An
authorization by our general meeting for the acquisition of ordinary shares can be granted for a maximum period of 18 months. Such authorization
must specify the number of ordinary shares that may be acquired, the manner in which these shares may be acquired and the price range
within which the shares may be acquired. No authorization of our general meeting is required if ordinary shares are acquired by us on
Nasdaq with the intention of transferring such ordinary shares to our employees or employees of a group company pursuant to an arrangement
applicable to them. We cannot derive any right to any distribution from ordinary shares, or voting rights attached to ordinary shares,
acquired by us. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Pursuant to a resolution of the general meeting dated June 17,
2021, our board of directors is irrevocably authorized for a period of 18 months to resolve for us to acquire fully paid-up ordinary
shares up to the maximum number of ordinary shares permitted pursuant to the law and our articles of association from time to time, through
privately negotiated repurchases, in self-tender offers, or through accelerated repurchase arrangements, at prices ranging from the nominal
value of the ordinary shares up to one hundred and ten percent (110%) of the market price of ordinary shares, provided that (i) for open
market or privately negotiated repurchases, the market price will be the price of the ordinary shares on Nasdaq at the time of the transaction,
(ii) for self-tender offers, the market price will be the volume-weighted average price of the ordinary shares on Nasdaq during a period,
determined by our board of directors, of no less than one and no more than five consecutive trading days immediately prior to the expiration
of the tender offer, and (iii) for accelerated repurchase arrangements, the market price will be the volume-weighted average price of
the ordinary shares on Nasdaq over the term of the arrangement. The volume-weighted average price for any number of trading days will
be calculated as the arithmetic average of the daily volume-weighted average price on those trading days. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Pursuant to a resolution of the general meeting dated June 17,
2021, our board of directors is furthermore irrevocably authorized for a period of 18 months from July 1, 2021 to resolve for us to acquire
fully paid-up financing preferred shares up to the maximum number of financing preferred shares permitted pursuant to the law and our
articles of association from time to time and that financing preferred shares may be acquired through privately negotiated repurchases,
in self-tender offers, or through accelerated repurchase arrangements, at prices ranging from the nominal value of the financing preferred
shares up to the amount that would be paid by us upon cancellation of such financing preferred shares in accordance with the relevant
provisions of our articles of association. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Capital Reduction</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> At a general meeting, our shareholders may resolve on the proposal
of our board of directors to reduce our issued share capital by (i) cancelling ordinary shares or (ii) reducing the nominal value of
the ordinary shares by amending our articles of association. In either case, this reduction would be subject to applicable statutory
provisions. A resolution to cancel ordinary shares may only relate to (i) ordinary shares held by us or in respect of which we hold the
depository receipts, or (ii) all financing preferred shares of a class if approved by the holders of all shares of that class. In order
to be approved by our general meeting, a resolution to reduce the capital requires approval of a majority of the votes cast at a general
meeting if at least 50% of the issued share capital is represented at such </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> meeting or at least 66 2/3% of the votes cast at a general meeting
if less than 50% of the issued share capital is represented at such meeting. A reduction of the nominal value of ordinary shares without
repayment and without release from the obligation to pay up the ordinary shares must be effectuated proportionally on shares of the same
class (unless all affected shareholders agree to a disproportional reduction). </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A resolution that would result in a reduction of capital requires approval
by a majority of the votes cast of each group of shareholders of the same class whose rights are prejudiced by the reduction. In addition,
a reduction of capital involves a two-month waiting period during which creditors have the right to object to a reduction of capital under
specified circumstances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">General Meeting of Shareholders and Voting Rights</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">General Meeting of Shareholders</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">General meetings are held in Amsterdam, Rotterdam, The Hague, Arnhem,
Utrecht, or in the municipality of Haarlemmermeer (Schiphol Airport), the Netherlands. All of our shareholders and others entitled to
attend our general meetings are authorized to address the meeting and, in so far as they have such right, to vote, either in person or
by proxy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">However, due to the COVID-19 pandemic several restrictions have been
implied in the Netherlands. It is possible that we will deviate from our articles of association and/or the Dutch Civil Code, as permitted
under the emergency bill Temporary Measures in the Field of the Ministry of Justice and Security in connection with the Outbreak of COVID-19
(<I>Tijdelijke Wet COVID-19 Justitie &amp; Veiligheid</I>), as extended or amended from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> We will hold at least one general meeting each year, to be held
within six months after the end of our financial year. A general meeting will also be held within three months after our board of directors
has determined it to be likely that our equity has decreased to an amount equal to or lower than half of its paid-up and called-up capital,
in order to discuss the measures to be taken if so required. If our board of directors fails to hold such general meeting in a timely
manner, each shareholder and other person entitled to attend our general meeting may be authorized by the Dutch court to convene our
general meeting. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Our board of directors may convene additional extraordinary general
meetings of shareholders at its discretion, subject to the notice requirements described below. Pursuant to Dutch law, one or more shareholders
and/or others entitled to attend general meetings of shareholders, alone or jointly representing at least 10% of our issued share capital,
may on their application be authorized by the Dutch court to convene a general meeting. The Dutch court will disallow the application
if (i) the applicants have not previously requested in writing that our board of directors convenes a shareholders&rsquo; meeting, (ii)
our board of directors convenes a shareholders&rsquo; meeting or (iii) our board of directors has not taken the necessary steps so that
the shareholders&rsquo; meeting could be held within six weeks after such request. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> The general meeting is convened by a notice, which includes an
agenda stating the items to be discussed and the location and time of our general meeting. For the annual general meeting, the agenda
will include, among other things, the adoption of our annual accounts, the appropriation of its profits or losses and proposals relating
to the composition of and filling of any vacancies on our board of directors. In addition, the agenda for a general meeting includes
such additional items as determined by our board of directors. Pursuant to Dutch law, one or more shareholders and/or others entitled
to attend general meetings of shareholders, alone or jointly representing at least 3% of the issued share capital, have the right to
request the inclusion of additional items on the agenda of shareholders&rsquo; meetings. Such requests must be made in writing, and may
include a proposal for a shareholder resolution, and must be received by us no later than on the sixtieth (60th) day before the day the
relevant shareholders&rsquo; meeting is held. No resolutions will be adopted on items other than those which have been included in the
agenda. Under our articles of association, certain items can only be put on the agenda as a voting item by our board of directors. Shareholders
meeting the relevant requirements may still request the inclusion of such items on the agenda as a discussion item. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> We will give notice of each general meeting by publication on our
website and, to the extent required by applicable law, in a Dutch daily newspaper with national distribution, and in any other manner
that we may be required to follow in order to comply with Dutch law and applicable stock exchange and SEC requirements. We will observe
the statutory minimum convening notice period for a general meeting. Holders of registered shares may further be provided notice of the
meeting in writing at their addresses as stated in its shareholders&rsquo; register. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Pursuant to our articles of association and Dutch law, our board
of directors may determine a record date (<I>registratiedatum</I>) of 28 calendar days prior to a general meeting to establish which
shareholders and others with meeting rights are entitled to attend and, if applicable, vote at our general meeting. The record date,
if any, and the manner in which shareholders can register and exercise their rights will be set out in the notice of our general meeting.
Our articles of association provide that a shareholder must notify us in writing of his or her identity and his or her intention to attend
(or be represented at) our general meeting, such notice to be received by us on the date set by our board of directors in accordance
with our articles of association and as set forth in the convening notice. If this requirement is not complied with or if upon request
no proper identification is provided by any person wishing to enter our general meeting, the chairman of our general meeting may, in
his or her sole discretion, refuse entry to the shareholder or his or her proxy holder. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Pursuant to our articles of association, our general meeting is
chaired by the chairman of our board of directors, who, nevertheless, may charge another person to preside over the meeting in his place
even if he himself is present at the meeting. If the chairman of our board of directors is absent and he has not charged another person
to preside over the meeting in his place, our general meeting will be presided over by the vice-chairman of our board of directors. If
both the chairman and the vice-chairman are absent, our directors present at the meeting will appoint one of them to be chairman. In
the absence of all directors, our general meeting will be presided over by our chief executive officer. If all directors and our chief
executive officer are absent, our general meeting will appoint its chairman. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Voting Rights and Quorum</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In accordance with Dutch law and our articles of association, each
ordinary share, irrespective of which class it concerns, confers the right on the holder thereof to cast one vote at our general meeting.
The voting rights attached to any ordinary shares held by us or our direct or indirect subsidiaries are suspended, unless the ordinary
shares were encumbered with a right of usufruct or a pledge in favor of a party other than us or a direct or indirect subsidiary before
such ordinary shares were acquired by us or such a subsidiary, in which case, the other party may be entitled to exercise the voting rights
on the ordinary shares. We may not exercise voting rights for ordinary shares in respect of which we or a direct or indirect subsidiary
has a right of usufruct or a pledge.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Voting rights may be exercised by shareholders or by a duly appointed
proxy holder (the written proxy being acceptable to the chairman of our general meeting) of a shareholder, which proxy holder need not
be a shareholder. The holder of a usufruct or pledge on shares will have the voting rights attached thereto if so provided for when the
usufruct or pledge was created.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under our articles of association, blank votes (votes where no choice
has been made), abstentions and invalid votes will not be counted as votes cast. However, shares in respect of which a blank vote or invalid
vote has been cast and shares in respect of which the person with meeting rights who is present or represented at the meeting has abstained
from voting are counted when determining the part of the issued share capital that is present or represented at a general meeting. The
chairman of our general meeting will determine the manner of voting and whether voting may take place by acclamation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Resolutions of the shareholders are adopted at a general meeting by
a majority of votes cast, except where Dutch law or our articles of association provide for a special majority in relation to specified
resolutions. Our articles of association do not provide for a quorum requirement, subject to any provision of mandatory Dutch law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Subject to certain restrictions in our articles of association,
the determination during our general meeting made by the chairman of that general meeting with regard to the results of a vote will be
decisive. Our board of directors will keep a record of the resolutions passed at each general meeting. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Amendment of Articles of Association</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> At a general meeting, at the proposal of our board of directors,
our general meeting may resolve to amend the articles of association. A resolution by the shareholders to amend the articles of association
requires a majority of the votes cast. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Merger, Demerger and Dissolution</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> At the proposal of our board of directors, our general meeting
may resolve with a majority of the votes cast (subject to certain exceptions), or with at least two-thirds of the votes cast if less
than half of the issued capital is present or represented at our general meeting, to legally merge or demerge the company within the
meaning of Title 7, Book 2 of the Dutch Civil Code. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Our shareholders may at a general meeting, based on a proposal
by our board of directors, by means of a resolution passed by a majority of the votes cast, resolve that the company will be dissolved.
In the event of dissolution of the company, the liquidation will be effected by our executive directors, under the supervision of our
non-executive directors, unless our general meeting decides otherwise. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Squeeze-Out</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A shareholder who for its own account (or together with its group companies)
holds at least 95% of our issued share capital may institute proceedings against the other shareholders jointly for the transfer of their
shares to the shareholder who holds such 95% majority. The proceedings are held before the Enterprise Chamber of the Amsterdam Court of
Appeal (<I>Ondernemingskamer van het Gerechtshof Amsterdam</I>) (the &ldquo;Enterprise Chamber&rdquo;) and can be instituted by means
of a writ of summons served upon each of the minority shareholders in accordance with the provisions of the Dutch Code of Civil Procedure
(<I>Wetboek van Burgerlijke Rechtsvordering</I>). The Enterprise Chamber may grant the claim for squeeze-out in relation to all minority
shareholders and will determine the price to be paid for the shares, if necessary after appointment of one or three experts who will offer
an opinion to the Enterprise Chamber on the value of the shares of the minority shareholders. Once the order to transfer by the Enterprise
Chamber becomes final and irrevocable, the majority shareholder that instituted the squeeze-out proceedings will give written notice of
the date</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">and place of payment and the price to the holders of the shares to
be acquired whose addresses are known to the majority shareholder. Unless the addresses of all minority shareholders are known to the
majority shareholder acquiring the shares, the majority shareholder is required to publish the same in a newspaper with a national circulation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> A shareholder that holds a majority of our issued share capital,
but less than the 95% required to institute the squeeze-out proceedings described above, may seek to propose and implement one or more
restructuring transactions with the objective of obtaining at least 95% of our issued share capital so the shareholder may initiate squeeze-out
proceedings. Those restructuring transactions could, among other things, include a merger or demerger involving the company, a contribution
of cash and/or assets against issuance of ordinary shares, the issuance of new ordinary shares to the majority shareholder without preemptive
rights for minority shareholders or an asset sale transaction. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Depending on the circumstances, an asset sale of a Dutch public limited
liability company (<I>naamloze vennootschap</I>) is sometimes used as a way to squeeze out minority shareholders, for example, after a
successful tender offer through which a third party acquires a supermajority, but less than all, of the company&rsquo;s shares. In such
a scenario, the business of the target company is sold to a third party or a special purpose vehicle, followed by the liquidation of the
target company. The purchase price is distributed to all shareholders in proportion to their respective shareholding as liquidation proceeds,
thus separating the business from the company in which minority shareholders had an interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Any sale or transfer of all of our assets and our dissolution or
liquidation is subject to approval by a majority of the votes cast in our general meeting. Our articles of association provide that our
general meeting may only adopt such resolution upon a proposal of our board of directors. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Certain Other Major Transactions</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Our articles of association and Dutch law provide that resolutions
of our board of directors concerning a material change in our identity, character or business are subject to the approval of our general
meeting. Such changes include: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> a transfer of all
                                            or materially all of our business to a third party; </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the entry into or termination of a long-lasting alliance of the company or of a subsidiary either with another entity or company,
or as a fully liable partner of a limited partnership or partnership, if this alliance or termination is of significant importance to
the company; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the acquisition or disposition of an interest in the capital of a company by the company or by its subsidiary with a value of at least
one-third of the value of our assets, according to the balance sheet with explanatory notes or, if the company prepares a consolidated
balance sheet, according to the consolidated balance sheet with explanatory notes in our most recently adopted annual accounts.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dividends and Other Distributions</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> We may only make distributions to our shareholders if our equity
exceeds the aggregate amount of the issued share capital and the reserves that must be maintained pursuant to Dutch law or our articles
of association. Under our articles of association, any profits or distributable reserves must first be applied to pay a dividend on the
financing preferred shares, if outstanding. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Any remaining profits may be reserved by our board of directors.
After reservation by our board of directors of any distributable profits, our general meeting will be authorized to declare distributions
on the proposal of our board of directors. Our board of directors is permitted, subject to certain requirements, to declare interim dividends
without the approval of the shareholders. Interim dividends may be declared as provided in our articles of association and may be distributed
to the extent that the shareholders&rsquo; equity, based on interim financial statements, exceeds the paid-up and called-up share capital
and the reserves that must be maintained under Dutch law or our articles of association. We may reclaim any distributions, whether interim
or not interim, made in contravention of certain restrictions of Dutch law from shareholders that knew or should have known that such
distribution was not permissible. In addition, on the basis of Dutch case law, if after a distribution we are not able to pay its due
and collectable debts, then our shareholders or directors who at the time of the distribution knew or reasonably should have foreseen
that result may be liable to its creditors. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Upon proposal of our board of directors, the general meeting may
determine that distributions will be made in whole or in part in a currency other than the euro. We shall announce any proposal for a
distribution and the date when and the place where the distribution will be payable to all shareholders by electronic means of communication
with due observance of the applicable law and stock exchange rules. Claims for payment of dividends and other distributions not made
within five years from the date that such dividends or distributions became payable will lapse, and any such amounts will be considered
to have been forfeited to the company (<I>verjaring</I>). </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Notices</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> We will give notice of each general meeting by publication on our
website and, to the extent required by applicable law, in a Dutch daily newspaper with national distribution, and in any other manner
that we may be required to follow in order to comply with Dutch law and applicable stock exchange and SEC requirements. Holders of registered
shares may further be provided notice of the meeting in writing at their addresses as stated in our shareholders&rsquo; register. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Warrants </P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> As of June 30, 2021, there were 7,187,500 warrants outstanding.
Each whole warrant entitles the holder to purchase one ordinary share for $11.50 per share, subject to certain adjustments. The warrants
will expire at the earliest to occur of (i) 5:00 p.m., New York City time on July 1, 2025 and (ii) 5:00 p.m., New York City time on the
redemption date, if any, that we may fix in accordance with the warrant agreement. Any warrant not exercised prior to its expiration
will become void. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Registration Rights </P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> We have granted to certain of our securityholders registration
rights pursuant to an Investor Rights and Lock-Up Agreement, dated July 1, 2020, among us and the investors party thereto. Such securityholders
are entitled to the following rights with respect to the registration of their ordinary shares for public resale under the Securities
Act. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Shelf Registration</I></B>. We are obligated to file and
keep effective a shelf registration statement pursuant to Rule 415 under the Securities Act with respect to all securities subject to
registration rights, subject to certain exceptions. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Demand Registration</I></B>. Upon the demand of certain securityholders,
we are obligated to effect a resale registration under the Securities Act with respect to all or any portion of their shares subject
to registration rights, subject to certain exceptions. Demand registration rights will not be triggered if there is an effective resale
shelf registration statement. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Piggyback Registration</I></B>. In the event that we propose
to register any of our securities under the Securities Act, either for our account or for the account of our other securityholders, holders
will be entitled to certain piggyback registration rights allowing each to include its shares in the registration, subject to certain
marketing and other limitations. As a result, whenever we propose to file a registration statement under the Securities Act, other than
with respect to a demand registration, a registration statement on Form S-4, F-4 or S-8 and or a registration of convertible debt securities,
these holders will be entitled to notice of the registration and will have the right to include their registrable securities in the registration,
subject to certain limitations. Piggyback registration rights will not be triggered if there is an effective resale shelf registration
statement, the registration is solely for an offering of securities by us and no other securityholder is entitled to participate in such
registration. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>Expenses; Indemnification</I></B>. We must pay all registration
expenses in connection with effecting any demand registration, piggyback registration or shelf registration. We are also subject customary
indemnification and contribution provisions. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Stock Exchange Listing</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our ordinary shares are listed on Nasdaq under the symbol &ldquo;IMTX.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Transfer Agent</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Continental Stock Transfer &amp; Trust Company serves as our agent
in New York to maintain our shareholders&rsquo; register on behalf of our board of directors and acts as transfer agent and registrar
for the ordinary shares. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Exchange Controls</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under Dutch law, there are no exchange controls applicable to the transfer
to persons outside of the Netherlands of dividends or other distributions with respect to, or of the proceeds from the sale of, shares
of a Dutch company, subject to applicable restrictions under sanctions and measures, including those concerning export control, pursuant
to applicable resolutions adopted by the United Nations, regulations of the European Union, the Sanctions Act 1977 (<I>Sanctiewet 1977</I>),
national emergency legislation, or other legislation, applicable anti-boycott regulations and similar rules. Pursuant to the Dutch Foreign
Financial Relations Act 1994 (<I>Wet financi&euml;le betrekkingen buitenland 1994</I>) entities could be obliged to provide certain financial
information to the Dutch Central Bank for statistical purposes only. The European Directive Mandatory Disclosure Rules (2011/16/EU) in
relation to cross-border tax arrangements can provide for future notification requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under German law, there are no exchange controls restricting the transfer
of funds between Germany and other countries or individuals, subject to applicable restrictions concerning import or export control or
sanctions and measures against certain persons, entities and countries subject to embargoes in accordance with German law and applicable
resolutions adopted by the United Nations and the European Union.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under German foreign trade regulation, with certain exceptions, every
corporation or individual residing in Germany must report to the German Central Bank on any payment received from or made to a non-resident
corporation or individual if the payment exceeds &euro;12,500 (or the equivalent in a foreign currency). Additionally, corporations and
individuals residing in Germany must report to the German Central Bank on any claims of a resident against, or liabilities payable to,
a non-resident corporation or individual exceeding an aggregate of &euro;5 million (or the equivalent in a foreign currency) at the end
of any calendar month. Resident corporations and individuals are also required to report annually to the German Central Bank on any stakes
of 10% or more they hold in the equity of non-resident corporations with total assets of more than &euro;3 million. Corporations residing
in Germany with assets in excess of &euro;3&nbsp;million must report annually to the German Central Bank on any stake of 10% or more in
the company held by an individual or a corporation located outside Germany.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="selling"></A>SELLING SECURITYHOLDERS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This prospectus relates to the possible offer and sale from time to
time of up to 39,332,281 ordinary shares by the selling securityholders. The selling securityholders may from time to time offer and sell
any or all of the ordinary shares set forth below pursuant to this prospectus. When we refer to the &ldquo;selling securityholders&rdquo;
in this prospectus, we mean the persons listed in the tables below, and the pledgees, donees, transferees, assignees, successors and others
who later come to hold any of the selling securityholders&rsquo; interest in our securities after the date of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The table below sets forth, as of the date of this prospectus, the
name of the selling securityholders for which we are registering ordinary shares for resale to the public and the aggregate principal
amount that the selling securityholders may offer pursuant to this prospectus. The individuals and entities listed below have beneficial
ownership over their respective securities. The SEC has defined &ldquo;beneficial ownership&rdquo; of a security to mean the possession,
directly or indirectly, of voting power and/or investment power over such security. A shareholder is also deemed to be, as of any date,
the beneficial owner of all securities that such shareholder has the right to acquire within 60 days after that date through (i) the exercise
of any option, warrant or right, (ii) the conversion of a security, (iii) the power to revoke a trust, discretionary account or similar
arrangement, or (iv) the automatic termination of a trust, discretionary account or similar arrangement. In computing the number of shares
beneficially owned by a person and the percentage ownership of that person, ordinary shares subject to options or other rights (as set
forth above) held by that person that are currently exercisable, or will become exercisable within 60 days thereafter, are deemed outstanding,
while such shares are not deemed outstanding for purposes of computing percentage ownership of any other person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> The selling securityholders may sell some, all or none of their
ordinary shares. In addition, the selling securityholders may sell, transfer or otherwise dispose of, at any time and from time to time,
the ordinary shares in transactions exempt from the registration requirements of the Securities Act after the date of this prospectus,
subject to applicable law. We do not know how long the selling securityholders will hold the ordinary shares before selling them, and
we currently have no agreements, arrangements or understandings with any selling securityholder regarding its resale of any of the common
shares. See &ldquo;Plan of Distribution.&rdquo; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Selling securityholder information for each additional selling
securityholder, if any, will be set forth by prospectus supplement to the extent required prior to the time of any offer or sale of such
selling securityholder&rsquo;s securities pursuant to this prospectus. Any prospectus supplement may add, update, substitute, or change
the information contained in this prospectus, including the identity of each selling securityholder and the number of ordinary shares
registered on its behalf. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Ordinary shares offered and beneficially owned are based primarily
on information initially provided to us by the selling securityholders indicating the ordinary shares they wished to be covered by this
registration statement and eligible for sale under this prospectus. A selling securityholder may have sold or transferred some or all
of the securities set forth in the table and accompanying footnotes, and consequently the securities indicated to be offered may exceed
the number of securities to be sold by the selling securityholders. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The shares owned by the persons named below do not have voting rights
different from the shares owned by other holders. Unless otherwise indicated, the business address of each beneficial owner listed in
the tables below is c/o Immatics N.V., Paul-Ehrlich-Stra&szlig;e 15, 72076 T&uuml;bingen, Federal Republic of Germany.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Shares<BR>
Owned<BR>
Before the<BR>
Offering<BR> </B></FONT></TD>
    <TD ROWSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Shares<BR>
Being<BR>
Offered<BR> </B></FONT></TD>
    <TD></TD>
    <TD COLSPAN="5" STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Shares Owned After<BR>
the Offering</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>Name of Selling Shareholder</B></FONT></TD>
    <TD STYLE="text-align: center; border-bottom: black 1pt solid">(#)&dagger;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: black 1pt solid">(#)&dagger;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>(#)(1)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>(%)(1)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(213,234,234)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt; width: 54%"><FONT STYLE="font-size: 8pt">Harpreet Singh</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right; width: 10%"><FONT STYLE="font-size: 8pt">296,627</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right; width: 10%"><FONT STYLE="font-size: 8pt">267,241</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right; width: 10%"><FONT STYLE="font-size: 8pt">29,386</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right; width: 10%"><FONT STYLE="font-size: 8pt">*</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">Peter Chambre</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">105,987</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">105,987</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(213,234,234)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">Carsten Reinhardt</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">110,907</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">107,781</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">3,126</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">*</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">Toni Weinschenk</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">72,906</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">71,598</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">1,308</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">*</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(213,234,234)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">Stephen Eck</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">13,705</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">13,705</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">Rainer Kramer</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">64,150</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">60,338</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">3,812</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">*</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(213,234,234)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">Thomas Ulmer</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">19,351</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">19,351</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">Steffen Walter</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">39,795</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">38,302</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">1,493</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">*</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(213,234,234)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">dievini Hopp BioTech holding GmbH &amp; Co. KG(2)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">16,476,073</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">16,476,073</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">AT Impf GmbH(3)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">4,911,778</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">4,911,778</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(213,234,234)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">MIG GmbH &amp; Co Fonds 11 KG(4)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">1,823,113</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">1,823,113</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">MIG GmbH &amp; Co Fonds 13 geschlossene Investment-KG(4)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">206,674</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">206,674</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(213,234,234)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">Wellington Partners Ventures II GmbH &amp; Co. KG(5)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">2,740,987</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">2,740,987</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">Wellington Partners Nominee Ltd.(6)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">1,184,440</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">1,184,440</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(213,234,234)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">Wellington Partners Ventures IV Life Science Fund L.P.(6)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">796,163</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">796,163</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">ARYA Sciences Holdings(7)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">3,503,750</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">3,503,750</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(213,234,234)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">Kevin Conroy(7)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">30,000</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">30,000</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">Todd Wider(7)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">30,000</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">30,000</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(213,234,234)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">David Hung(7)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">30,000</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">30,000</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>

</TABLE>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"><A HREF="#toc" TITLE="Table of Contents">Table of Contents</A>&nbsp;</P></DIV>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: rgb(213,234,234)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt; width: 54%"><FONT STYLE="font-size: 8pt">Alyeska Master Fund, LP(8)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right; width: 10%"><FONT STYLE="font-size: 8pt">496,032</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right; width: 10%"><FONT STYLE="font-size: 8pt">496,032</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right; width: 10%">&nbsp;&nbsp;<FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right; width: 10%"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">Alyeska Master Fund 3, LP(9)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">3,968</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">3,968</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(213,234,234)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">Baker Brothers Life Sciences, L.P.(10) </FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">137,573</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">137,573</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">667, L.P. (10)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">12,427</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">12,427</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(213,234,234)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">Dellora Investments LP(11)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">15,000</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">15,000</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">Federated Hermes Kaufmann Fund(12)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">400,000</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">400,000</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(213,234,234)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">Federated Hermes Kaufmann Fund II(12)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">10,000</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">10,000</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">Federated Hermes Kaufmann Small Cap Fund(12)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">290,000</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">290,000</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(213,234,234)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">Perceptive Life Sciences Master Fund Ltd.(13)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">2,500,000</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">2,500,000</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">Redmile Capital Offshore II Master Fund, Ltd.(14)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">894,500</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">894,500</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(213,234,234)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">Redmile Strategic Master Fund, LP(14)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">1,105,500</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">1,105,500</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">RTW Innovation Master Fund, Ltd.(15)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">85,435</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">85,435</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(213,234,234)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">RTW Master Fund, Ltd.(15)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">240,415</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">240,415</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">RTW Venture Fund Limited(15) </FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">24,150</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">24,150</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(213,234,234)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">Schonfeld Strategic 460 Fund LLC(16) </FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">100,000</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">100,000</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">Sphera Biotech Master Fund L.P(17)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">150,000</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">150,000</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(213,234,234)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">Sphera Global Healthcare Master Fund(17)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">450,000</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">450,000</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&mdash; </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  </TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; font-size: 10pt"><FONT STYLE="font-size: 8pt">&dagger;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">Ordinary shares offered and beneficially owned are based primarily on information initially provided to us by the selling securityholders indicating the ordinary shares they wished to be covered by this registration statement and eligible for sale under this prospectus. A selling securityholder may have sold or transferred some or all of the securities set forth in the table and accompanying footnotes, and consequently the securities indicated to be offered may exceed the number of securities to be sold by the selling securityholders.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">*</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">Less than 1% </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">(1)</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">The number of shares owned after this offering assumes the sale of all shares offered in this prospectus. The percentage of shares owned after this offering is based on 62,908,617 ordinary shares outstanding as of December 31, 2020.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">(2)</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">The business address of Hopp BioTech holding GmbH &amp; Co. KG is dievini Hopp BioTech holding GmbH &amp; Co. KG, Johann-Jakob-Astor-Strasse 57, 69190 Walldorf, Federal Republic of Germany. </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">(3)</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">The business address of AT Impf GmbH is c/o Athos Service GmbH, Rosenheimer Platz 6, 81669 Munich, Federal Republic of Germany. </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">(4)</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">The business address of each of MIG GmbH &amp; Co Fonds 11 KG and MIG GmbH &amp; Co Fonds 13 geschlossene Investment-KG is Ismaniger Str. 102, 81675 Munich, Federal Republic of Germany. </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">(5)</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">The business address of Wellington Partners Ventures II GmbH &amp; Co. KG (A) is Tuerkenstrasse 5, 80333 Munich, Federal Republic of Germany. </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">(6)</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">The business address of each of Wellington Partners Ventures IV Life Sciences Fund L.P. and Wellington Partners Nominee Ltd. is 11-15 Seaton Place St Helier Jersey JE4 0QH, Channel Island. </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">(7)</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">The business address of each of ARYA Sciences Holdings, Kevin Conroy, Todd Wider and David Hung is c/o Perceptive Advisors, 51 Astor Place, 10th Floor, New York, New York 10003. </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">(8)</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">The business address of Alyeska Master Fund, LP is c/o Maples Corporate Services Limited, P.O. Box 309, Ugland House, South Church Street, George Town, Grand Cayman, KY1-1104 Cayman Islands, British West Indies. </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">(9)</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">The business address of Alyeska Master Fund 3, LP is c/o Corporation Service Company, 251 Little Falls Drive, Wilmington, DE 19808. </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">(10)</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">The business address of each of Baker Brothers Life Sciences, L.P. and 667, L.P. is 860 Washington Street, 3rd Floor, New York, NY 10014. </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">(11)</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">The business address of Dellora Investments LP is 4 Murdock Road, Scarsdale, NY 10583. </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">(12)</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">The business address of each of Federated Hermes Kaufmann Fund, Federated Hermes Kaufmann Fund II and Federated Hermes Kaufmann Small Cap Fund is 4000 Ericsson Drive, Warrendale, PA 15086-7561. </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">(13)</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">The business address of Perceptive Life Sciences Master Fund Ltd. is 51 Astor Place, 10th Floor, New York, NY 10003. </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">(14)</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">The business address of each of Redmile Capital Offshore II Master Fund, Ltd. and Redmile Strategic Master Fund, LP is One Letterman Drive, Suite D3-300 , San Francisco, CA 94129. </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">(15)</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">The business address of each of RTW Innovation Master Fund, Ltd., RTW Master Fund, Ltd. and RTW Venture Fund Limited is 412 W. 15th St., Floor 9, New York, NY 10011. </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">(16)</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">The business address of Schonfeld Strategic 460 Fund LLC is 460 Park Ave, Fl. 19, New York, NY 10022. </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">(17)</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">The business address of each of Sphera Biotech Master Fund L.P and Sphera Global Healthcare Master Fund is c/o Maples Corporate Services Limited P.O. Box 309 , Ugland House, South Church Street, George Town, Grand Cayman, KY1-1104 Cayman Islands. </FONT></TD></TR>
  </TABLE>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"><A HREF="#toc" TITLE="Table of Contents">Table of Contents</A>&nbsp;</P></DIV>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="plan"></A>PLAN OF DISTRIBUTION</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We are registering the possible offer and sale from time to time of
up to 39,332,281 ordinary shares by the selling securityholders. All of the ordinary shares offered by the selling securityholders pursuant
to this prospectus will be sold by the selling securityholders for their respective accounts. We will not receive any of the proceeds
from such sales.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The selling securityholders will pay any underwriting discounts and
commissions and expenses incurred by the selling securityholders for brokerage, accounting, tax or legal services or any other expenses
incurred by the selling securityholders in disposing of the securities. We will bear all other costs, fees and expenses incurred in effecting
the registration of the securities covered by this prospectus, including, without limitation, all registration and filing fees, Nasdaq
listing fees and fees and expenses of our counsel and our independent registered public accountants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The securities beneficially owned by the selling securityholders covered
by this prospectus may be offered and sold from time to time by the selling securityholders. The term &ldquo;selling securityholders&rdquo;
includes donees, pledgees, transferees or other successors in interest selling securities received after the date of this prospectus from
a selling securityholder as a gift, pledge, partnership distribution or other transfer. The selling securityholders will act independently
of us in making decisions with respect to the timing, manner and size of each sale. Such sales may be made on one or more exchanges or
in the over-the-counter market or otherwise, at prices and under terms then prevailing or at prices related to the then current market
price or in negotiated transactions. Each selling securityholder reserves the right to accept and, together with its respective agents,
to reject, any proposed purchase of securities to be made directly or through agents. The selling securityholders and any of their permitted
transferees may sell their securities offered by this prospectus on any stock exchange, market or trading facility on which the securities
are traded or in private transactions. If underwriters are used in the sale, such underwriters will acquire the shares for their own account.
These sales may be at a fixed price or varying prices, which may be changed, or at market prices prevailing at the time of sale, at prices
relating to prevailing market prices or at negotiated prices. The securities may be offered to the public through underwriting syndicates
represented by managing underwriters or by underwriters without a syndicate. The obligations of the underwriters to purchase the securities
will be subject to certain conditions. The underwriters will be obligated to purchase all the securities offered if any of the securities
are purchased.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Subject to the limitations set forth in any applicable registration
rights agreement, the selling securityholders may use any one or more of the following methods when selling the securities offered by
this prospectus:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> purchases by a
                                            broker-dealer as principal and resale by such broker-dealer for its own account pursuant
                                            to this prospectus; </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> ordinary brokerage
                                            transactions and transactions in which the broker solicits purchasers; </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> block trades in
                                            which the broker-dealer so engaged will attempt to sell the securities as agent but may position
                                            and resell a portion of the block as principal to facilitate the transaction; </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> an over-the-counter
                                            distribution in accordance with the rules of Nasdaq; </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> through trading
                                            plans entered into by a selling securityholder pursuant to Rule 10b5-1 under the Exchange
                                            Act that are in place at the time of an offering pursuant to this prospectus and any applicable
                                            prospectus supplement hereto that provide for periodic sales of their securities on the basis
                                            of parameters described in such trading plans; </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> to or through underwriters
                                            or broker-dealers; </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> in &ldquo;at the
                                            market&rdquo; offerings, as defined in Rule 415 under the Securities Act, at negotiated prices, </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> at prices prevailing
                                            at the time of sale or at prices related to such prevailing market prices, including sales
                                            made directly on a national securities exchange or sales made through a market maker other
                                            than on an exchange or other similar offerings through sales agents; </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> directly to purchasers,
                                            including through a specific bidding, auction or other process or in privately negotiated
                                            transactions; </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> in options transactions; </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> through a combination
                                            of any of the above methods of sale; or </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> any other method
                                            permitted pursuant to applicable law. </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In addition, a selling securityholder that is an entity may elect to
make a pro rata in-kind distribution of securities to its members, partners or shareholders pursuant to the registration statement of
which this prospectus is a part by delivering a prospectus with a plan of distribution. Such members, partners or shareholders would thereby
receive freely tradeable securities pursuant to the distribution</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">through a registration statement. To the extent a distributee is an
affiliate of ours (or to the extent otherwise required by law), we may file a prospectus supplement in order to permit the distributees
to use the prospectus to resell the securities acquired in the distribution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">There can be no assurance that the selling securityholders will sell
all or any of the securities offered by this prospectus. In addition, the selling securityholders may also sell securities under Rule
144 under the Securities Act, if available, or in other transactions exempt from registration, rather than under this prospectus. The
selling securityholders have the sole and absolute discretion not to accept any purchase offer or make any sale of securities if they
deem the purchase price to be unsatisfactory at any particular time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The selling securityholders also may transfer the securities in other
circumstances, in which case the transferees, pledgees or other successors-in-interest will be the selling beneficial owners for purposes
of this prospectus. Upon being notified by a selling securityholder that a donee, pledgee, transferee, other successor-in-interest intends
to sell our securities, we will, to the extent required, promptly file a supplement to this prospectus to name specifically such person
as a selling securityholder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">With respect to a particular offering of the securities held by the
selling securityholders, to the extent required, an accompanying prospectus supplement or, if appropriate, a post-effective amendment
to the registration statement of which this prospectus is part, will be prepared and will set forth the following information:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> the specific securities
                                            to be offered and sold; </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> the names of the
                                            selling securityholders; </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> the respective
                                            purchase prices and public offering prices, the proceeds to be received from the sale, if
                                            any, and other material terms of the offering; </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> settlement of short
                                            sales entered into after the date of this prospectus; </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> the names of any
                                            participating agents, broker-dealers or underwriters; and </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> any applicable
                                            commissions, discounts, concessions and other items constituting compensation from the selling
                                            securityholders. </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In connection with distributions of the securities or otherwise, the
selling securityholders may enter into hedging transactions with broker-dealers or other financial institutions. In connection with such
transactions, broker-dealers or other financial institutions may engage in short sales of the securities in the course of hedging the
positions they assume with selling securityholders. The selling securityholders may also sell the securities short and redeliver the securities
to close out such short positions. The selling securityholders may also enter into option or other transactions with broker-dealers or
other financial institutions which require the delivery to such broker-dealer or other financial institution of securities offered by
this prospectus, which securities such broker-dealer or other financial institution may resell pursuant to this prospectus (as supplemented
or amended to reflect such transaction). The selling securityholders may also pledge securities to a broker-dealer or other financial
institution, and, upon a default, such broker-dealer or other financial institution, may effect sales of the pledged securities pursuant
to this prospectus (as supplemented or amended to reflect such transaction).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In order to facilitate the offering of the securities, any underwriters
or agents, as the case may be, involved in the offering of such securities may engage in transactions that stabilize, maintain or otherwise
affect the price of our securities. Specifically, the underwriters or agents, as the case may be, may overallot in connection with the
offering, creating a short position in our securities for their own account. In addition, to cover overallotments or to stabilize the
price of our securities, the underwriters or agents, as the case may be, may bid for, and purchase, such securities in the open market.
Finally, in any offering of securities through a syndicate of underwriters, the underwriting syndicate may reclaim selling concessions
allotted to an underwriter or a broker-dealer for distributing such securities in the offering if the syndicate repurchases previously
distributed securities in transactions to cover syndicate short positions, in stabilization transactions or otherwise. Any of these activities
may stabilize or maintain the market price of the securities above independent market levels. The underwriters or agents, as the case
may be, are not required to engage in these activities, and may end any of these activities at any time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The selling securityholders may solicit offers to purchase the securities
directly from, and they may sell such securities directly to, institutional investors or others. In this case, no underwriters or agents
would be involved. The terms of any of those sales, including the terms of any bidding or auction process, if utilized, will be described
in the applicable prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">It is possible that one or more underwriters may make a market in our
securities, but such underwriters will not be obligated to do so and may discontinue any market making at any time without notice. We
cannot give any assurance as to the liquidity of the trading market for our securities. Our ordinary shares are listed on Nasdaq under
the symbol &ldquo;IMTX&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The selling securityholders may authorize underwriters, broker-dealers
or agents to solicit offers by certain purchasers to purchase the securities at the public offering price set forth in the prospectus
supplement pursuant to delayed delivery contracts providing for payment and delivery on a specified date in the future. The contracts
will be subject only to those conditions set forth in the prospectus supplement, and the prospectus supplement will set forth any commissions
we or the selling securityholders pay for solicitation of these contracts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A selling securityholder may enter into derivative transactions with
third parties, or sell securities not covered by this prospectus to third parties in privately negotiated transactions. If the applicable
prospectus supplement indicates, in connection with those derivatives, the third parties may sell securities covered by this prospectus
and the applicable prospectus supplement, including in short sale transactions. If so, the third party may use securities pledged by any
selling securityholder or borrowed from any selling securityholder or others to settle those sales or to close out any related open borrowings
of stock, and may use securities received from any selling securityholder in settlement of those derivatives to close out any related
open borrowings of stock. The third party in such sale transactions will be an underwriter and will be identified in the applicable prospectus
supplement (or a post-effective amendment). In addition, any selling securityholder may otherwise loan or pledge securities to a financial
institution or other third party that in turn may sell the securities short using this prospectus. Such financial institution or other
third party may transfer its economic short position to investors in our securities or in connection with a concurrent offering of other
securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In effecting sales, broker-dealers or agents engaged by the selling
securityholders may arrange for other broker-dealers to participate. Broker-dealers or agents may receive commissions, discounts or concessions
from the selling securityholders in amounts to be negotiated immediately prior to the sale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In compliance with the guidelines of the Financial Industry Regulatory
Authority (&ldquo;FINRA&rdquo;), the aggregate maximum discount, commission, fees or other items constituting underwriting compensation
to be received by any FINRA member or independent broker-dealer will not exceed 8% of the gross proceeds of any offering pursuant to this
prospectus and any applicable prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="taxation"></A>TAXATION</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Material U.S. Federal Income Tax Considerations for U.S. Holders</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> In the opinion of Davis Polk &amp; Wardwell LLP, the following
is a description of the material U.S. federal income tax consequences to the U.S. Holders, as defined below, of owning and disposing
our ordinary shares. It does not describe all tax considerations that may be relevant to a particular person&rsquo;s decision to acquire
ordinary shares. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> This discussion applies only to a U.S. Holder that holds ordinary
shares as capital assets for U.S. federal income tax purposes (generally, property held for investment). In addition, it does not describe
any tax consequences other than U.S. federal income tax consequences, including state and local tax consequences and estate tax consequences,
and does not describe all of the U.S. federal income tax consequences that may be relevant in light of the U.S. Holder&rsquo;s particular
circumstances, including alternative minimum tax consequences, the potential application of the provisions of the Internal Revenue Code
of 1986, as amended (the &ldquo;Code&rdquo;) known as the Medicare contribution tax and tax consequences applicable to U.S. Holders subject
to special rules, such as: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> certain banks,
                                            insurance companies and other financial institutions; </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> brokers, dealers
                                            or traders in securities who use a mark-to-market method of tax accounting; </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> persons holding
                                            ordinary shares as part of a straddle, wash sale, conversion transaction or other integrated
                                            transaction or persons entering into a constructive sale with respect to the ordinary shares; </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> persons whose functional
                                            currency for U.S. federal income tax purposes is not the U.S. dollar; </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> entities or arrangements
                                            classified as partnerships or S corporations for U.S. federal income tax purposes; </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> tax-exempt entities,
                                            including an &ldquo;individual retirement account&rdquo; or &ldquo;Roth IRAs&rdquo; and governmental
                                            entities; </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> real estate investment
                                            trusts or regulated investment companies; </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> corporations that
                                            accumulate earnings to avoid U.S. federal income tax; </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> persons that own
                                            or are deemed to own 10% or more of the voting power or value of our shares; or </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> persons holding
                                            ordinary shares in connection with a trade or business conducted outside of the United States
                                            or in connection with a permanent establishment or other fixed place of business outside
                                            of the United States. </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> If an entity or arrangement that is classified as a partnership
for U.S. federal income tax purposes holds ordinary shares, the U.S. federal income tax treatment of a partner will generally depend
on the status of the partner and the activities of the partnership. Partnerships holding ordinary shares and partners in such partnerships
should consult their tax advisers as to the particular U.S. federal income tax consequences of owning and disposing of the ordinary shares. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> This discussion is based on the Code, administrative pronouncements,
judicial decisions, final, temporary and proposed Treasury regulations, and the income tax treaty between the Netherlands and the United
States (the &ldquo;Treaty&rdquo;), all as of the date hereof, any of which is subject to change or differing interpretations, possibly
with retroactive effect. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> A &ldquo;U.S. Holder&rdquo; is a beneficial owner of our ordinary
shares who, for U.S. federal income tax purposes, is eligible for the benefits of the Treaty and who is: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> a citizen or individual
                                            resident of the United States; </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> a corporation,
                                            or other entity taxable as a corporation, created or organized in or under the laws of the
                                            United States, any state therein or the District of Columbia; </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> an estate the income
                                            of which is subject to U.S. federal income taxation regardless of its source; or </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> a trust if (1)
                                            a court within the United States is able to exercise primary supervision over the trust&rsquo;s
                                            administration and one or more United States persons have the authority to control all substantial
                                            decisions of the trust or (2) a valid election under the Treasury regulations is in effect
                                            for the trust to be treated as a United States person. </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> U.S. Holders should consult their tax advisers concerning the U.S.
federal, state, local and non-U.S. tax consequences of owning and disposing of ordinary shares in their particular circumstances. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> The discussion under &ldquo;Taxation of Distributions&rdquo; and
&ldquo;Sale or Other Disposition of Ordinary shares&rdquo; below describes certain consequences to U.S. Holders in the event that we
are not a passive foreign investment company for U.S. federal income tax purposes (a &ldquo;PFIC&rdquo;) during any tax year in which
a U.S. Holder holds our ordinary shares. This discussion assumes that we were not a PFIC for our 2020 taxable year, and will not become
a PFIC in the foreseeable future. See &ldquo;Passive Foreign Investment Company Rules&rdquo; below. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Taxation of Distributions </P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Distributions paid on ordinary shares, other than certain pro rata
distributions of ordinary shares, will generally be treated as dividends to the extent paid out of our current or accumulated earnings
and profits (as determined under U.S. federal income tax principles). Because we do not maintain calculations of our earnings and profits
under U.S. federal income tax principles, we expect that distributions generally will be reported to U.S. Holders as dividends. Dividends
paid to certain non-corporate U.S. Holders may be eligible for taxation as &ldquo;qualified dividend income&rdquo; and therefore, subject
to applicable limitations, may be taxable at long-term capital gain rates. Dividends will constitute qualified dividend income (a) for
so long as the ordinary shares with respect to which the dividends are paid are listed on the NYSE or are otherwise considered &quot;readily
tradable&quot; on an established securities market for U.S. federal income tax purposes or we are eligible for benefits under the Treaty
and (b) we are not a PFIC in the year in which the dividend is paid or the prior taxable year. However, there can be no assurance that
our ordinary shares will remain listed or otherwise be considered readily tradable on an established securities market in the future,
nor (as discussed under &ldquo;Passive Foreign Investment Company Rules&rdquo; below) that we will not be a PFIC for any future taxable
year. U.S. Holders should consult their tax advisers regarding the availability of the reduced tax rate on dividends in their particular
circumstances. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> The amount of a dividend will include any amounts withheld in respect
of Dutch income taxes. The amount of the dividend will be treated as foreign-source dividend income to U.S. Holders and will not be eligible
for the dividends-received deduction generally available to U.S. corporations under the Code. Dividends will be included in a U.S. Holder&rsquo;s
income on the date of the U.S. Holder&rsquo;s receipt of the dividend. The amount of any dividend income paid in euros will be the U.S.
dollar amount calculated by reference to the exchange rate in effect on the date of actual or constructive receipt, regardless of whether
the payment is in fact converted into U.S. dollars at that time. If the dividend is converted into U.S. dollars on the date of receipt,
a U.S. Holder should not be required to recognize foreign currency gain or loss in respect of the dividend income. A U.S. Holder may
have foreign currency gain or loss if the dividend is converted into U.S. dollars after the date of receipt. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Subject to applicable limitations, some of which vary depending
upon the U.S. Holder&rsquo;s particular circumstances, Dutch income taxes withheld from dividends on ordinary shares (at a rate not exceeding
the rate provided by the Treaty, in the case of a U.S. Holder eligible for a reduced rate under the Treaty) will be creditable against
the U.S. Holder&rsquo;s U.S. federal income tax liability. The rules governing foreign tax credits are complex and U.S. Holders should
consult their tax advisers regarding the creditability of foreign taxes in their particular circumstances. In lieu of claiming a foreign
tax credit, U.S. Holders may, at their election, deduct foreign taxes, including any Dutch income tax, in computing their taxable income,
subject to generally applicable limitations under U.S. law. An election to deduct foreign taxes instead of claiming foreign tax credits
applies to all foreign taxes paid or accrued in the taxable year. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Sale or Other Disposition of Ordinary Shares </P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Gain or loss realized by a U.S. Holder on the sale or other disposition
of ordinary shares will be capital gain or loss, and will be long-term capital gain or loss if the U.S. Holder&rsquo;s holding period
for such ordinary shares was more than one year as of the date of the sale or other disposition. The amount of the gain or loss will
equal the difference between the U.S. Holder&rsquo;s tax basis in the ordinary shares disposed of and the amount realized on the disposition,
in each case as determined in U.S. dollars. Long-term capital gain recognized by a non-corporate U.S. Holder is subject to U.S. federal
income tax at rates lower than the rates applicable to ordinary income and short-term capital gains, while short-term capital gains are
subject to U.S. federal income tax at the rates applicable to ordinary income. This gain or loss will generally be U.S.-source gain or
loss for foreign tax credit purposes. The deductibility of capital losses is subject to various limitations. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Passive Foreign Investment Company Rules</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Under the Code, we will be a PFIC for any taxable year in which,
after the application of certain look-through rules with respect to subsidiaries, either (i) 75% or more of our gross income consists
of &ldquo;passive income&rdquo; or (ii) 50% or more of the average quarterly value of our assets consist of assets that produce, or are
held for the production of, &ldquo;passive income.&rdquo; For purposes of the above calculations, we will be treated as if we hold our
proportionate share of the assets of, and receive directly our proportionate share of the income of, any other corporation in which we
directly or indirectly own at least 25%, by value, of the shares of such corporation. Passive income generally includes interest, dividends,
certain non-active rents and royalties, and capital gains. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> We believe that we were not a PFIC for our 2020 taxable year, and
we do not expect to become a PFIC for the current or subsequent taxable years. However, whether we will be a PFIC in the current or any
future year is uncertain because, among other things, (i) we </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> currently own, and likely will continue to own, a substantial amount
of passive assets, including cash, (ii) the timing of our recognition of active income for U.S. federal income tax purposes, which may
differ from the timing of the recognition of such income for financial accounting purposes, may result in our recognizing minimal amounts
of active income for U.S. federal income tax purposes in certain taxable years and (iii) the valuation of our assets that generate non-passive
income for PFIC purposes, including our intangible assets, is uncertain and may be determined in substantial part by our market capitalization,
which may vary substantially over time. Accordingly, there can be no assurance that we will not be a PFIC for the current or any future
taxable year. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> If we are a PFIC for any year during which a U.S. Holder holds
ordinary shares, we will continue to be treated as a PFIC with respect to that U.S. Holder for all succeeding years during which the
U.S. Holder holds ordinary shares, even if we cease to meet the threshold requirements for PFIC status, unless the U.S. Holder elects
to recognize gain, if any, as if it sold its ordinary shares as of the last day of the last tax year in which we are a PFIC (a &ldquo;Purging
Election&rdquo;). In addition, we may, directly or indirectly, have held or hold equity interests in other PFICs (collectively, &ldquo;Lower-tier
PFICs&rdquo;). Under attribution rules, if we are a PFIC, U.S. Holders will be deemed to own their proportionate shares of the stock
of Lower-tier PFICs and will be subject to U.S. federal income tax according to the rules described in the following paragraphs on (i)
certain distributions by a Lower-tier PFIC and (ii) a disposition of shares of a Lower-tier PFIC, in each case as if the U.S. Holder
held those shares directly, even though it will not have received the proceeds of those distributions or dispositions directly. U.S.
Holders should consult their tax advisers about the consequences to them if we own one or more Lower-tier PFICs. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> If we are a PFIC for any taxable year during which a U.S. Holder
holds ordinary shares (assuming the U.S. Holder has not made one of certain elections, as described below), gain recognized by the U.S.
Holder on the sale or other disposition (including certain pledges) of ordinary shares (including any gain recognized as a consequence
of a Purging Election) will be allocated ratably over the U.S. Holder&rsquo;s holding period for the ordinary shares. The amounts allocated
to the taxable year of the sale or other disposition and to any year before we became a PFIC will be taxed as ordinary income. The amount
allocated to each other taxable year will be subject to tax at the highest rate in effect for individuals or corporations, as appropriate,
for that taxable year, and an interest charge will be imposed on the resulting tax liability. Further, to the extent that any distribution
received by a U.S. Holder on its ordinary shares exceeds 125% of the average of the annual distributions on the ordinary shares received
during the preceding three years or the U.S. Holder&rsquo;s holding period, whichever is shorter, that distribution will be subject to
taxation in the same manner as gain, described immediately above. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> If we were a PFIC and a U.S. Holder made either (a) an election
to treat our ordinary shares as stock of a &ldquo;qualified electing fund,&rdquo; or QEF, or (b) a &ldquo;mark-to-market&rdquo; election)
with respect to our ordinary shares, that election would alleviate some of the adverse tax consequences of PFIC status and would result
in an alternative treatment of the ordinary shares. If we determine that we are a PFIC for any taxable year, we intend to provide the
information for U.S. Holders to make or maintain a QEF election, including information necessary to determine the appropriate income
inclusion amounts for purposes of the QEF election. However, we cannot give any assurance that we will have timely knowledge of our status
as a PFIC in the future or that we will provide the information necessary for U.S. Holders to make &ldquo;QEF elections.&rdquo; Furthermore,
the availability of a &ldquo;mark-to-market election&rdquo; with respect to the ordinary shares is a factual determination that will
depend on the manner and quantity of trading of our ordinary shares. A mark-to-market election cannot be made with respect to the stock
of any of our subsidiaries. U.S. Holders should consult their tax advisers regarding whether any of these elections for alternative treatment
would be available and, if so, what the consequences of the alternative treatments would be in their particular circumstances. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> If we are a PFIC (or, with respect to a particular U.S. Holder,
are treated as a PFIC) for a taxable year in which we pay a dividend or for the prior taxable year, the preferential dividend rates discussed
above with respect to dividends paid to certain non-corporate U.S. Holders will not apply. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> If we are a PFIC for a taxable year during which a U.S. Holder
holds ordinary shares, the U.S. Holder will generally be required to file an annual report on IRS Form 8621 with its annual U.S. federal
income tax returns, subject to certain exceptions. The failure to file IRS Form 8621 could result in the imposition of penalties and
the extension of the statute of limitations with respect to U.S. federal income tax. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Prospective U.S. Holders should consult their tax advisers regarding
the potential PFIC rules to an investment in ordinary shares. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Information Reporting and Backup Withholding</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Payments of dividends and sales proceeds that are made within the
United States or through certain U.S.-related financial intermediaries generally are subject to information reporting, and may be subject
to backup withholding, unless (i) the U.S. Holder is a corporation or other exempt recipient or (ii) in the case of backup withholding,
the U.S. Holder provides a correct taxpayer identification number and certifies that it is not subject to backup withholding. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> The amount of any backup withholding from a payment to a U.S. Holder
will be allowed as a credit against the U.S. Holder&rsquo;s U.S. federal income tax liability and may entitle it to a refund, provided
that the required information is timely furnished to the IRS. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Material Dutch Tax Considerations</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Taxation in the Netherlands</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This section outlines the principal Dutch tax consequences of the acquisition,
holding, settlement, redemption and disposal of ordinary shares. It does not purport to present a comprehensive or complete description
of all aspects of Dutch tax law which could be of relevance to a holder of ordinary shares in the capital of Immatics, which we refer
to as a shareholder. For Dutch tax purposes, a shareholder may include an individual who, or an entity that, does not hold the legal title
to the ordinary shares, but to whom, or to which, nevertheless the ordinary shares or the income thereof, are attributed based either
on such individual or entity owning a beneficial interest in the ordinary shares or based on specific statutory provisions. These include
statutory provisions pursuant to which ordinary shares are attributed to an individual who is, or who has directly or indirectly inherited
from a person who was, the settlor, grantor or similar originator of a trust, foundation or similar entity that holds the ordinary shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> This section is intended as general information only. A prospective
shareholder should consult his or her own tax adviser regarding the tax consequences of any acquisition, holding, redemption and disposal
of ordinary shares. Except as otherwise provided, this section is based on Dutch tax law as applied and interpreted by Dutch tax courts
and as published and in effect on the date of this prospectus supplement, including, for the avoidance of doubt, the tax rates applicable
on the date hereof, without prejudice to any amendments introduced at a later date and implemented with or without retroactive effect.
On this basis, the statements included in this section are the opinion of CMS Derks Star Busmann N.V., Dutch counsel to Immatics. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Any reference in this section made to Dutch taxes, Dutch tax or Dutch
tax law must be construed as a reference to any taxes of any nature levied by or on behalf of the Netherlands or any of its subdivisions
or taxing authorities or to the law governing such taxes, respectively. The Netherlands means the part of the Kingdom of the Netherlands
located in Europe.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Any reference hereafter made to a treaty for the avoidance of double
taxation concluded by the Netherlands includes the Tax Regulation for the Kingdom of the Netherlands (<I>Belastingregeling voor het Koninkrijk</I>),
the Tax Regulations for the Netherlands and Curacao (<I>Belastingregeling Nederland Cura&ccedil;ao</I>), the Tax Regulations for the Netherlands
and Sint Maarten (<I>Belastingregeling Nederland Sint Maarten</I>), the Tax Regulation for the State of the Netherlands (<I>Belastingregeling
voor het land Nederland</I>) and the Agreement between the Taipei Representative Office in the Netherlands and the Netherlands Trade and
Investment Office in Taipei for the avoidance of double taxation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This section does not describe any Dutch tax considerations or consequences
that may be relevant to a shareholder:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD>who is an individual and for whom the income or capital gains derived from the ordinary shares are attributable to employment activities,
the income from which is taxable in the Netherlands;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(ii)</TD><TD>who has, or that has, a substantial interest (<I>aanmerkelijk belang</I>) or a fictitious substantial interest (<I>fictief aanmerkelijk
belang</I>) in Immatics within the meaning of chapter 4 of the Dutch Income Tax Act 2001 (<I>Wet inkomstenbelasting 2001</I>). Generally,
a shareholder has a substantial interest in Immatics if such shareholder, alone or&mdash;in case of an individual&mdash;together with
a partner for Dutch tax purposes, or any relative by blood or by marriage in the ascending or descending line (including foster-children)
of either of them, directly or indirectly:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"> a. </TD><TD> owns, or holds, or is deemed to own or hold, certain rights to
                                            shares representing 5% or more of the total issued capital of Immatics, or of the issued
                                            and outstanding capital of any class of shares of Immatics; </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"> b. </TD><TD> holds, or is deemed to hold, rights to, directly or indirectly,
                                            acquire shares, whether or not already issued, representing 5% or more of the total issued
                                            capital of Immatics, or of the issued capital of any class of shares of Immatics; or </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"> c. </TD><TD> owns, or holds, or is deemed to own or hold, certain rights on
                                            profit participating certificates (<I>winstbewijzen</I>) that relate to 5% or more of the
                                            annual profit of Immatics or to 5% or more of the liquidation proceeds of Immatics. </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">A shareholder who is an individual will also have a substantial
interest if a partner for Dutch tax purposes or any relative by blood or by marriage in the ascending or descending line (including foster-children)
of either of them has a substantial interest in Immatics:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(iii)</TD><TD>that is an entity which is, pursuant to the Dutch Corporate Income Tax Act 1969 (<I>Wet op de vennootschapsbelasting 1969</I>) (the
&ldquo;CITA&rdquo;), not subject to Dutch corporate income tax or is in full or in part exempt from Dutch corporate income tax (such as
a qualifying pension fund);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(iv)</TD><TD>that is an investment institution (<I>beleggingsinstelling</I>) as described in clause 6a or 28 CITA; or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(v)</TD><TD>that is required to apply the participation exemption (<I>deelnemingsvrijstelling</I>) with respect to the ordinary shares, or a combination
thereof (as defined in clause 13 CITA). Generally, a holding of ordinary shares is considered to qualify as a participation for the participation
exemption if it represents a holding of, or right to acquire, an interest of 5% or more of the nominal paid-up share capital in Immatics.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Withholding Tax on Dividend Payments</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A shareholder is generally subject to Dutch dividend withholding tax
at a rate of 15% on dividends distributed by Immatics. Generally, Immatics is responsible for the withholding of such dividend withholding
tax at the source. However, a shareholder will not be subject to Dutch dividend withholding tax on dividends distributed by Immatics if,
and for as long as, Immatics is resident solely in Germany for purposes of the convention between Germany and the Netherlands for the
avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income (the &ldquo;German-Dutch tax treaty&rdquo;),
unless:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD>the shareholder is a Dutch Individual (as defined below) or a Dutch Corporate Entity (as defined below); or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(ii)</TD><TD>the shareholder is a Non-Dutch Individual (as defined below) or a Non-Dutch Corporate Entity (as defined below) and derives profits
from an enterprise, which enterprise is, in whole or in part, carried on through a permanent establishment (<I>vaste inrichting</I>) or
a permanent representative (<I>vaste vertegenwoordiger</I>) in the Netherlands, to which the ordinary shares are attributable.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The current German-Dutch tax treaty stipulates that if a company is
treated as tax resident of both the Netherlands and Germany it shall be treated as resident of the country in which it has its place of
effective management for purposes of the treaty. It is currently envisaged that Immatics shall have its place of effective management
in Germany.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">It is currently uncertain what evidence, information and documentation
will be required by the Dutch tax authorities for purposes of accepting application of the German-Dutch tax treaty as described above,
either at the source or through a refund request by a shareholder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dividends distributed by Immatics include, but are not limited to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD>distributions of profits in cash or in kind, whatever they be named or in whatever form;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(ii)</TD><TD>proceeds from the liquidation of Immatics or proceeds from the repurchase of ordinary shares by Immatics, other than as a temporary
portfolio investment (<I>tijdelijke belegging</I>), in excess of the average paid-in capital recognized for Dutch dividend withholding
tax purposes;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(iii)</TD><TD>the nominal value of ordinary shares issued to a shareholder or an increase in the nominal value of ordinary shares, to the extent
that no related contribution, recognized for Dutch dividend withholding tax purposes, has been made or will be made; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(iv)</TD><TD>partial repayment of paid-in capital, that is not recognized for Dutch dividend withholding tax purposes, or if recognized for Dutch
dividend withholding tax purposes, to the extent that Immatics has &ldquo;net profits&rdquo; (<I>zuivere winst</I>) which may include
anticipated profits that have yet to be realized, unless:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">a.</TD><TD>the general meeting has resolved in advance to make such repayment; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">b.</TD><TD>the nominal value of the ordinary shares concerned has been reduced with an equal amount by way of an amendment to the articles of
association of Immatics. The term &ldquo;net profits&rdquo; includes anticipated profits that have yet to be realized.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> If a shareholder is resident or deemed to be resident in the Netherlands,
such shareholder is generally entitled to an exemption or a credit for any Dutch dividend withholding tax against his or her Dutch (corporate)
income tax liability and to a refund of any residual Dutch dividend withholding tax. Depending on his or her specific circumstances,
a shareholder resident in a country other than the Netherlands, may be entitled to exemptions from, reduction of, or full or partial
refund of, Dutch dividend withholding tax pursuant to Dutch law, EU law or treaties for avoidance of double taxation. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> A shareholder that is resident (i) in an EU member state, or (ii)
in a state that is a party to the Agreement on the European Economic Area (&ldquo;EEA&rdquo;; Iceland, Liechtenstein or Norway), or (iii)
in a designated third state with which the Netherlands has agreed to an arrangement for the exchange of information on tax matters, is
entitled to a full or partial refund of Dutch dividend withholding tax incurred in respect of ordinary shares if the final tax burden
in respect of the dividends distributed by Immatics of a comparable Dutch resident shareholder is lower than the withholding tax incurred
by the non-Dutch resident shareholder. The refund is granted upon request, and is subject to conditions and limitations. No entitlement
to a refund exists if the disadvantage for the non-Dutch resident </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">shareholder is entirely compensated in his or her state of residence
under the provisions of a treaty for the avoidance of double taxation concluded between this state of residence and the Netherlands.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">According to Dutch domestic anti-dividend stripping rules, no credit
against Dutch (corporate) income tax, exemption from, reduction in or refund of, Dutch dividend withholding tax will be granted if the
recipient of the dividends paid by Immatics is not considered to be the beneficial owner (<I>uiteindelijk gerechtigde</I>) of such dividends.
The DWTA provides for a non-exhaustive negative description of a beneficial owner. According to the DWTA, a shareholder will not be considered
the beneficial owner of the dividends if as a consequence of a combination of transactions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD>a person other than the shareholder wholly or partly, directly or indirectly, benefits from the dividends;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(ii)</TD><TD>whereby this other person retains or acquires, directly or indirectly, an interest similar to that in the ordinary shares on which
the dividends were paid; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(iii)</TD><TD>that other person is entitled to a credit, reduction or refund of Dutch dividend withholding tax that is less than that of the shareholder.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Taxes on Income and Capital Gains</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">Residents of the Netherlands</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The description of certain Dutch tax consequences in this paragraph
is only intended for the following shareholders:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD>individuals who are resident or deemed to be resident in the Netherlands for Dutch income tax purposes (&ldquo;Dutch Individuals&rdquo;);
and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(ii)</TD><TD>entities or enterprises that are subject to the CITA and are resident or deemed to be resident in the Netherlands for corporate income
tax purposes (&ldquo;Dutch Corporate Entities&rdquo;).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dutch Individuals Engaged or Deemed to Be Engaged in an Enterprise
or in Miscellaneous Activities</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dutch Individuals engaged or deemed to be engaged in an enterprise
or who derive income from miscellaneous activities (<I>resultaat uit overige werkzaamheden</I>) are generally subject to income tax at
statutory progressive rates with a maximum of 49.5% on any benefits derived or deemed to be derived from the ordinary shares, that are
either attributable to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD>an enterprise from which a Dutch Individual derives profits, whether as an entrepreneur (<I>ondernemer</I>) or pursuant to a co-entitlement
(<I>medegerechtigde</I>) to the net worth of such enterprise other than as an entrepreneur or a shareholder; or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(ii)</TD><TD>the benefits of which are attributable to miscellaneous activities, including, without limitation, activities which are beyond the
scope of active portfolio investment activities (<I>meer dan normaal vermogensbeheer</I>).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dutch Individuals Not Engaged or Deemed to Be Engaged in an
Enterprise or in Miscellaneous Activities</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Generally, the ordinary shares held by a Dutch Individual who is not
engaged or deemed to be engaged in an enterprise or miscellaneous activities, or who is so engaged or deemed to be engaged but the ordinary
shares are not attributable to that enterprise or miscellaneous activities, will be subject to annual income tax imposed on a fictitious
yield on the ordinary shares under the regime for savings and investments (<I>inkomen uit sparen en beleggen</I>). Irrespective of the
actual income and capital gains realized the annual taxable benefit of all the assets and liabilities of a Dutch Individual that are taxed
under this regime, including the ordinary shares, is set at a percentage of the positive balance of the fair market value of these assets,
including the ordinary shares and the fair market value of these liabilities. The percentage, which is annually indexed, increases:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD>from 1.898% over the first &euro;50,000;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(ii)</TD><TD>to 4.501% over &euro;50,000 up to and including &euro;950,000; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(iii)</TD><TD>to a maximum of 5.69% over &euro;950,000 or higher.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> No taxation occurs if this positive balance does not exceed a certain
threshold (<I>heffingvrij vermogen</I>), which is &euro;50,000 in 2021. The positive balance of the fair market value of assets, including
the ordinary shares, and liabilities that is taxed under this regime is measured once in each calendar year on January 1. The tax rate
under the regime for savings and investments is a flat rate of 31%. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Dutch Corporate Entities</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dutch Corporate Entities are generally subject to corporate income
tax at statutory rates up to 25% on any benefits derived or deemed to be derived from the ordinary shares. A reduced rate of 15% applies
to the first &euro; 245,000 of taxable profits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">Non-residents of the Netherlands</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The description of certain Dutch tax consequences in this paragraph
is only intended for the following shareholders:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>individuals not resident and not deemed to be resident in the Netherlands for Dutch income tax purposes (&ldquo;Non-Dutch Individuals&rdquo;);
or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>entities not resident and not deemed to be resident in the Netherlands for Dutch corporate income tax purposes (&ldquo;Non-Dutch Corporate
Entities&rdquo;).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A Non-Dutch Individual or a Non-Dutch Corporate Entity will not be
subject to any Dutch taxes on income or capital gains in respect of the acquisition, holding, redemption and disposal of ordinary shares,
other than withholding tax as described above, except if:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD>the Non-Dutch Individual or the Non-Dutch Corporate Entity derives profits from an enterprise, whether as entrepreneur or pursuant
to a co-entitlement to the net worth of such enterprise other than as an entrepreneur or a shareholder, which enterprise is, in whole
or in part, carried on through a permanent establishment (<I>vaste inrichting</I>) or a permanent representative (<I>vaste vertegenwoordiger</I>)
in the Netherlands, to which the ordinary shares are attributable;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(ii)</TD><TD>the Non-Dutch Individual derives benefits from miscellaneous activities carried out in the Netherlands in respect of the ordinary
shares, including (without limitation) activities which are beyond the scope of active portfolio investment activities;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(iii)</TD><TD>the Non-Dutch Corporate Entity is entitled to a share in the profits of an enterprise or a co-entitlement to the net worth of an enterprise,
other than by way of securities, which enterprise is effectively managed in the Netherlands and to which enterprise the ordinary shares
are attributable; or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(iv)</TD><TD>the Non-Dutch Individual is entitled to a share in the profits of an enterprise, other than by way of securities, which enterprise
is effectively managed in the Netherlands and to which enterprise the ordinary shares are attributable.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under certain specific circumstances, Dutch taxation rights may be
restricted for Non-Dutch Individuals and Non-Dutch Corporate Entities pursuant to treaties for the avoidance of double taxation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dutch Gift Tax or Inheritance Tax</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">No Dutch gift tax or inheritance tax is due in respect of any gift
of the ordinary shares by, or inheritance of the ordinary shares on the death of, a shareholder, except if:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>at the time of the gift or death of the shareholder, the shareholder is resident, or is deemed to be resident, in the Netherlands;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the shareholder passes away within 180 days after the date of the gift of the ordinary shares and is not, or not deemed to be, at
the time of the gift, but is, or deemed to be resident in the Netherlands at the time of his or her death; or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the gift of the ordinary shares is made under a condition precedent and the shareholder is resident, or is deemed to be resident,
in the Netherlands at the time the condition is fulfilled.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> For purposes of Dutch gift tax or inheritance tax, an individual
who is of Dutch nationality will be deemed to be resident in the Netherlands if such individual has been resident in the Netherlands
at any time during the 10 years preceding the date of the gift or his death. For purposes of Dutch gift tax, any individual, irrespective
of his or her nationality, be deemed to be resident in the Netherlands if such individual has been resident in the Netherlands at any
time during the 12 months preceding the date of the gift. Applicable tax treaties may override such deemed residency. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Value Added Tax (VAT)</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">No Dutch VAT will be payable by a shareholder in respect of any purchase,
ownership and disposal of the ordinary shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Other Taxes and Duties</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">No other Dutch taxes, including taxes of a documentary nature, such
as capital tax, stamp or registration tax or duty, are payable by or on behalf of the shareholder by reason only of the purchase, ownership
and disposal of the ordinary shares</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Residency</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A shareholder will not become resident, or deemed resident, in the
Netherlands for tax purposes by reason only of holding the ordinary shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Material German Tax Considerations</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> The following section is a description of the material German tax
considerations that become relevant when acquiring, owning and transferring Immatics&rsquo; ordinary shares. It is based on the German
tax law applicable as of the date of this prospectus supplement without prejudice to any amendments introduced at a later date and implemented
with or without retroactive effect. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> This section is intended as general information only and does not
purport to be a comprehensive or complete description of all potential German tax effects of the acquisition, ownership or transfer of
ordinary shares and does not set forth all German tax considerations that may be relevant to a particular person&rsquo;s decision to
acquire ordinary shares. It does not constitute particular German tax advice and potential purchasers of Immatics&rsquo; ordinary shares
are urged to consult their own tax advisers regarding the tax consequences of the acquisition, ownership and transfer of ordinary shares
in light of their particular circumstances with regard to the application of German tax law to their particular situations (including
full or partial tax exemptions of certain pension or investment funds or non-profit organizations), in particular with respect to the
procedure to be complied with to obtain a relief of withholding tax on dividends and on capital gains (<I>Kapitalertragsteuer</I>) and
with respect to the influence of double tax treaty provisions, as well as any tax consequences arising under the laws of any state, local
or other non-German jurisdiction. For German tax purposes, a shareholder may include an individual who or an entity that does not have
the legal title to the ordinary shares, but to whom nevertheless the ordinary shares are attributed, based either on such individual
or entity owning a beneficial interest in the ordinary shares or based on specific statutory provisions. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">All of the following is subject to change. Such changes could apply
retroactively and could affect the consequences set forth below. This section does not refer to any foreign account tax compliance act
(FATCA) aspects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Immatics&rsquo; Tax Residency Status</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Immatics has its statutory seat in the Netherlands and its sole place
of management in Germany and is therefore tax resident in Germany (for purposes of the German-Dutch tax treaty). Thus, Immatics qualifies
as a corporation subject to German unlimited liability for corporate income tax purposes. However, because Immatics&rsquo; tax residency
depends on future facts regarding its place of management the German unlimited liability for corporate income tax purposes may change
in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Taxation of Dividends</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">Withholding Tax on Dividend Payments</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dividends distributed from Immatics to its shareholders are generally
subject to German withholding tax, conditionally upon certain exemptions (for example, repayments of capital from the tax contribution
account (<I>steuerliches Einlagekonto</I>)), as further described. The withholding tax rate is 25% plus a 5.5% solidarity surcharge (<I>Solidarit&auml;tszuschlag</I>)
thereon totaling 26.375% of the gross dividend amount. Withholding tax is to be withheld and passed on for the account of the shareholders
by a domestic branch of a domestic or foreign credit or financial services institution (<I>Kredit</I>- <I>und Finanzdienstleistungsinstitut</I>),
by the domestic securities trading company (<I>inl&auml;ndisches Wertpapierhandelsunternehmen</I>) or a domestic securities trading bank
(<I>inl&auml;ndische Wertpapierhandelsbank</I>) which keeps and administers the ordinary shares and disburses or credits the dividends
or disburses the dividends to a foreign agent, or by the securities custodian bank (<I>Wertpapiersammelbank</I>) to which the ordinary
shares were entrusted for collective custody if the dividends are distributed to a foreign agent by such securities custodian bank (which
is referred to as the &ldquo;Dividend Paying Agent&rdquo;). In case the ordinary shares are not held in collective deposit with a Dividend
Paying Agent, Immatics is responsible for withholding and remitting the tax to the competent tax office. Such withholding tax is levied
and withheld irrespective of whether and to what extent the dividend distribution is taxable at the level of the shareholder and whether
the shareholder is a person residing in Germany or in a foreign country.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> In the case of dividends distributed to a company within the meaning
of Art. 2 of the amended EU Directive 2011/96/EU of the Council of November 30, 2011 (the &ldquo;EU Parent Subsidiary Directive&rdquo;)
domiciled in another Member State of the European Union, withholding tax can be effectively reduced to zero. This also applies to dividends
distributed to a permanent establishment located in another Member State of the European Union of such a parent company or of a parent
company tax resident in Germany if the participation in Immatics is effectively connected with this permanent establishment. The key
prerequisite for the application of the EU Parent Subsidiary Directive is that the shareholder has held a direct participation in the
share capital of Immatics of at least 10% for at an uninterrupted period of least one year and is considered the beneficial owner of
such participation. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> The withholding tax on dividends distributed to other foreign resident
shareholders can be reduced in accordance with an applicable double tax treaty (to 15%, 5% or 0%, depending on certain prerequisites)
if Germany has concluded such double tax treaty with the country of residence of the shareholder and if the shareholder does not hold
his or her ordinary shares either as part of the assets of a permanent establishment or a fixed place of business in Germany or as business
assets for which a permanent representative has been </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> appointed in Germany. Further, the foreign resident shareholder
must be eligible for treaty purposes and no limitation of benefits provision in a double tax treaty and&mdash;both in relation to a reduction
pursuant to the EU Parent Subsidiary Directive and an applicable tax treaty&mdash; the German anti-directive/treaty shopping provision
of Section 50d paragraph 3 of the German Income Tax Act (<I>Einkommensteuergesetz</I>) must not be applicable. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">However, the deduction of withholding taxes will generally apply irrespective
of a possible reduction pursuant to the EU Parent Subsidiary Directive or applicable double tax treaty except for the case that the recipient
of the dividends has been granted an exemption from the German Federal Central Tax Office (<I>Bundeszentralamt f&uuml;r Steuern</I>) upon
formal application by the recipient of the dividends (<I>Freistellung im Steuerabzugsverfahren</I>). In case of deducted withholding taxes,
the reduction of the withholding tax pursuant to both the EU Parent Subsidiary Directive and an applicable double tax treaty is procedurally
granted in such a manner that the difference between the total amount withheld, including the solidarity surcharge, and the tax liability
determined on the basis of the EU Parent Subsidiary Directive (0%) or on the basis of the tax rate set forth in the applicable double
tax treaty (15% unless further qualifications are met) is upon request refunded by the German Federal Central Tax Office (<I>Bundeszentralamt
f&uuml;r Steuern</I>).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the case of dividends received by corporations who are not tax resident
in Germany, two-fifths of the withholding tax deducted and remitted are refunded without the need to fulfill all prerequisites required
for such refund under the EU Parent Subsidiary Directive or under a double tax treaty or if no double tax treaty has been concluded between
the state of residence of the shareholder, however, likewise subject to the conditions of the German anti-directive/treaty shopping provision.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In order to receive a refund pursuant to a double tax treaty or the
aforementioned option for foreign corporations, the shareholder has to submit a completed form for refund (available at the website of
the Federal Central Tax Office (http://www.bzst.de) as well as at the German embassies and consulates) together with a withholding tax
certificate (<I>Kapitalertragsteuerbescheinigung</I>) issued by the institution that deducted the respective withholding tax.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> In 2021, the German legislator adopted a reform of the withholding
tax procedures by the Act&nbsp;to Modernize the Relief from&nbsp;Withholding Tax&nbsp;and the Certification of Capital Gains Tax (<I>Abzugsteuerentlastungsmodernisierungsgesetz</I>)
which has been published in the German Federal Law Gazette on June 8, 2021. The reform comprises changes to the current withholding tax
procedures in particular as regards the granting of exemption certificates (time limitation, conditions, etc.) and the application for
refunds (in each case including allocation of competencies within tax authorities, procedural aspects and electronic reporting obligations
by withholding agents) and as regards the application of German anti-directive/treaty shopping provision of Section 50d paragraph 3 of
the German Income Tax Act (<I>Einkommensteuergesetz</I>). </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The aforementioned reductions of (or exemptions from) withholding tax
are further restricted if (i) the applicable double tax treaty provides for a tax reduction resulting in an applicable tax rate of less
than 15% and (ii) the shareholder is not a corporation that directly holds at least 10% in the equity capital of Immatics and is subject
to tax on its income and profits in its state of residence without being exempt. In this case, the reduction of (or exemption from) withholding
tax is subject to the following three cumulative prerequisites: (i) the shareholder must qualify as beneficial owner of the shares in
a company for a minimum holding period of 45 consecutive days occurring within a period of 45 days prior and 45 days after the due date
of the dividends, (ii) the shareholder has to bear at least 70% of the change in value risk related to the shares in a company during
the minimum holding period without being directly or indirectly hedged, and (iii) the shareholder must not be required to fully or largely
compensate directly or indirectly the dividends to third parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the absence of the fulfillment of all of the three prerequisites,
three-fifths of the withholding tax imposed on the dividends must not be credited against the shareholder&rsquo;s (corporate) income tax
liability, but may, upon application, be deducted from the shareholder&rsquo;s tax base for the relevant assessment period. Furthermore,
a shareholder that has received gross dividends without any deduction of withholding tax due to a tax exemption without qualifying for
such a full tax credit has (i) to notify the competent local tax office accordingly, (ii) to declare according to the officially prescribed
form and (iii) has to make a payment in the amount of the omitted withholding tax deduction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">However, these special rules on the restriction of withholding tax
credit do not apply to a shareholder whose overall dividend earnings within an assessment period do not exceed &euro;20,000 or that has
been the beneficial owner of the shares in a company for at least one uninterrupted year upon receipt of the dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> For individual or corporate shareholders tax resident outside Germany
not holding the ordinary shares through a permanent establishment (<I>Betriebsst&auml;tte</I>) in Germany or as business assets (<I>Betriebsverm&ouml;gen</I>)
for which a permanent representative (<I>st&auml;ndiger Vertreter</I>) has been appointed in Germany, the remaining and paid withholding
tax (if any) is then final (i.e., not refundable) and settles the shareholder&rsquo;s limited tax liability in Germany. For individual
or corporate shareholders tax resident in Germany (for example, those shareholders whose residence, domicile, registered office or place
of management is located in Germany) holding their ordinary shares as business assets, as well as for shareholders tax resident outside
of Germany holding their ordinary shares through a permanent establishment in Germany or as business assets for which a permanent representative
has been appointed in Germany, the withholding tax withheld (including solidarity surcharge) can be credited against the shareholder&rsquo;s
personal income tax or corporate </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> income tax liability in Germany. Any withholding tax (including
solidarity surcharge) in excess of such tax liability is refunded. For individual shareholders tax resident in Germany holding Immatics&rsquo;
ordinary shares as private assets, the withholding tax is a final tax (<I>Abgeltungsteuer</I>), subject to the exceptions described in
the following section. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">Taxation of Dividend Income of Shareholders Tax Resident in
Germany Holding Immatics&rsquo; Ordinary Shares as Private Assets (Private Individuals)</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> For individual shareholders (individuals) resident in Germany holding
Immatics&rsquo; ordinary shares as private assets, dividends are subject to a flat rate tax which is satisfied by the withholding tax
actually withheld (<I>Abgeltungsteuer</I>). Accordingly, dividend income will be taxed at a flat tax rate of 25% plus a 5.5% solidarity
surcharge thereon totaling 26.375% and church tax (<I>Kirchensteuer</I>) in case the shareholder is subject to church tax because of
his or her personal circumstances. An automatic procedure for deduction of church tax by way of withholding will apply to shareholders
being subject to church tax unless the shareholder has filed a blocking notice (<I>Sperrvermerk</I>) with the German Federal Tax Office
(details related to the computation of the specific tax rate including church tax are to be discussed with the individual tax adviser
of the relevant shareholder). Except for an annual lump sum savings allowance (<I>Sparer-Pauschbetrag</I>) of up to &euro;801 (for individual
filers) or up to &euro;1,602 (for married couples and for partners in accordance with the registered partnership law (<I>Gesetz &uuml;ber
die Eingetragene Lebenspartnerschaft</I>) filing jointly), private individual shareholders will not be entitled to deduct expenses incurred
in connection with the capital investment from their dividend income. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> The income tax owed for the dividend income is satisfied by the
withholding tax withheld by the Dividend Paying Agent. However, if the flat tax results in a higher tax burden as opposed to the private
individual shareholder&rsquo;s personal income tax rate, the private individual shareholder can opt for taxation at his or her personal
income tax rate. In that case, the final withholding tax will be credited against the income tax. The option can be exercised only for
all capital income from capital investments received in the relevant assessment period uniformly and married couples as well as partners
in accordance with the registered partnership law filing jointly may only jointly exercise the option. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Exceptions from the flat rate tax (satisfied by withholding the tax
at source, <I>Abgeltungswirkung</I>) may apply&mdash;that is, only upon application&mdash;for shareholders who have a shareholding of
at least 25% in Immatics and for shareholders who have a shareholding of at least 1% in Immatics and work for a company in a professional
capacity. In such a case, the same rules apply as for sole proprietors holding the ordinary shares as business assets (see below &ldquo;Taxation
of Dividend Income of Shareholders Tax Resident in Germany Holding the Company&rsquo;s Ordinary Shares as Business Assets&mdash;Sole Proprietors&rdquo;).
Further, the flat rate tax does not apply if and to the extent dividends reduced Immatics taxable income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">Taxation of Dividend Income of Shareholders Tax Resident in
Germany Holding Immatics&rsquo; Ordinary Shares as Business Assets</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> If a shareholder holds the Immatics&rsquo; ordinary shares as business
assets, the taxation of the dividend income depends on whether the respective shareholder is a corporation, a sole proprietor, a partnership
or an investment fund. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">Corporations</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dividend income of corporate shareholders is exempt from corporate
income tax, provided that the corporation holds a direct participation of at least 10% in the share capital of a company at the beginning
of the calendar year in which the dividends are paid (participation exemption). The acquisition of a participation of at least 10% in
the course of a calendar year is deemed to have occurred at the beginning of such calendar year. Participations in the share capital of
the company which a corporate shareholder holds through a partnership, including co-entrepreneurships (<I>Mitunternehmerschaften</I>),
are attributable to such corporate shareholder only on a pro rata basis at the ratio of the interest share of the corporate shareholder
in the assets of the relevant partnership. However, 5% of the tax-exempt dividends are deemed to be non-deductible business expenses for
tax purposes and therefore are effectively subject to corporate income tax (plus solidarity surcharge) and trade tax; i.e., tax exemption
of 95%. Business expenses incurred in connection with the dividends received are entirely tax deductible. The participation exemption
does not apply if and to the extent dividends reduced Immatics taxable income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For trade tax purposes the entire dividend income is subject to trade
tax (i.e., the tax-exempt dividends must be added back when determining the trade taxable income), unless the corporation shareholder
holds at least 15% of the company&rsquo;s registered share capital at the beginning of the relevant tax assessment period (<I>Erhebungszeitraum</I>).
In case of an indirect participation via a partnership please refer to the section &ldquo;Partnerships&rdquo; below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> If the shareholding is below 10% in the share capital, dividends
are taxable at the applicable corporate income tax rate of 15%, plus a 5.5% solidarity surcharge thereon and trade tax (the rate of which
depends on the applicably municipality levy rate determined by the municipality the corporate shareholder has its place of management
and permanent establishments respectively). </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Special regulations apply which abolish the 95% tax exemption, if the
company&rsquo;s ordinary shares are held as trading portfolio assets in the meaning of Section 340e of the German Commercial Code (<I>Handelsgesetzbuch</I>)
by (i) a credit institution (<I>Kreditinstitut</I>), (ii) a financial service institution (<I>Finanzdienstleistungsinstitut</I>) or (iii)
a financial enterprise within the meaning of the German Banking</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Act (<I>Kreditwesengesetz</I>), in case more than 50% of the shares
of such financial enterprise are held directly or indirectly by a credit institution or a financial service institution, as well as by
a life insurance company, a health insurance company or a pension fund in case the shares are attributable to the capital investments,
resulting in fully taxable income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sole Proprietors</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> For sole proprietors (individuals) resident in Germany holding
ordinary shares as business assets dividends are subject to the partial income rule (<I>Teileink&uuml;nfteverfahren</I>). Accordingly,
only (i) 60% of the dividend income will be taxed at his/her personal income tax rate plus 5.5% solidarity surcharge thereon and church
tax (if applicable) and (ii) 60% of the business expenses related to the dividend income are deductible for tax purposes. In addition,
the dividend income is entirely subject to trade tax if the ordinary shares are held as business assets of a permanent establishment
in Germany within the meaning of the German Trade Tax Act (<I>Gewerbesteuergesetz</I>), unless the shareholder holds at least 15% of
the company&rsquo;s registered share capital at the beginning of the relevant assessment period. The trade tax levied will be eligible
for credit against the shareholder&rsquo;s personal income tax liability based on the applicable municipal trade tax rate and the individual
tax situation of the shareholder limited to currently 4.0 times the trade tax measurement amount (<I>Gewerbesteuer-Messbetrag</I>). As
from 2021 onwards, the solidarity surcharge has been abolished in case a certain income threshold is not exceeded. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">Partnerships</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In case ordinary shares are held by a partnership, the partnership
itself is not subject to corporate income tax or personal income tax. In this regard, corporate income tax or personal income tax (and
church tax, if applicable) as well as solidarity surcharge are levied only at the level of the partner with respect to their relevant
part of the partnership&rsquo;s taxable income and depending on their individual circumstances:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>if the partner is a corporation, the dividend income will be subject to corporate income tax plus solidarity surcharge (see &ldquo;Corporations&rdquo;
above);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>if the partner is a sole proprietor, the dividend income will be subject to the partial income rule (see &ldquo;Sole Proprietors&rdquo;
above); and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>if the partner is a private individual, the dividend income will be subject to the flat tax rate (see &ldquo;Private Individuals&rdquo;
above).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In case the partnership is a (operative or deemed) commercial partnership
with its place of management in Germany the dividend income is subject to German trade tax at the level of the partnership, unless the
partnership holds at least 15% of a company&rsquo;s registered share capital at the beginning of the relevant assessment period, in which
case the dividend income is exempt from trade tax.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Investment Funds </P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Investment funds (<I>Investmentfonds</I>) and specialized investment
funds (<I>Spezial-Investmentfonds</I>) in the meaning of the German Investment Tax Act (<I>Investmentsteuergesetz</I>) and their investors
are subject to special rules concerning the taxation of dividends, in particular in relation to the application of the German participation
exemption, withholding tax treatment (applicable rate and exemption/refund procedure) and tax assessment. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">Taxation of Dividend Income of Shareholders Tax Resident Outside
of Germany</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For foreign individual or corporate shareholders tax resident outside
of Germany not holding the ordinary shares through a permanent establishment in Germany or as business assets for which a permanent representative
has been appointed in Germany, the deducted withholding tax (possibly reduced by way of a tax relief under a double tax treaty or domestic
tax law, such as in connection with the EU Parent Subsidiary Directive) is final (that is, not refundable) and settles the shareholder&rsquo;s
limited tax liability in Germany, unless the shareholder is entitled to apply for a withholding tax refund or exemption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In contrast, individual or corporate shareholders tax resident outside
of Germany holding the company&rsquo;s ordinary shares through a permanent establishment in Germany or as business assets for which a
permanent representative has been appointed in Germany are subject to the same rules as applicable (and described above) to shareholders
resident in Germany holding the ordinary shares as business assets. The withholding tax withheld (including solidarity surcharge) is credited
against the shareholder&rsquo;s personal income tax or corporate income tax liability in Germany.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Taxation of Capital Gains</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">Withholding Tax on Capital
Gains</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Capital gains realized on the disposal of ordinary shares are only
subject to withholding tax if (i) a permanent establishment in Germany of a German or foreign credit or financial institution, (ii) a
German securities trading company or (iii) a German securities trading bank stores or administrates or carries out the disposal of the
ordinary shares and pays or credits the capital gains. In those cases, the institution (and not the company) is required to deduct the
withholding tax at the time of payment for the account of the shareholder and has to pay the withholding tax to the competent tax authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In case the ordinary shares in the company are held (i) as business
assets by a sole proprietor, a partnership or a corporation and such shares are attributable to a German business or (ii) in case of a
corporation being subject to unlimited corporate income tax liability in Germany, the capital gains are not subject to withholding tax.
In case of the aforementioned exemption under (i) above, the withholding tax exemption is subject to the condition that the paying agent
has been notified by the beneficiary (<I>Gl&auml;ubiger</I>) that the capital gains are exempt from withholding tax. The respective notification
has to be filed by using the officially prescribed form.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">Taxation of Capital Gains Realized by Shareholders Tax Resident
in Germany Holding Immatics&rsquo; Ordinary Shares as Private Assets (Private Individuals)</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> For individual shareholders (individuals) resident in Germany holding
ordinary shares as private assets, capital gains realized on the disposal of ordinary shares are subject to final withholding tax (<I>Abgeltungsteuer</I>).
Accordingly, capital gains will be taxed at a flat tax rate of 25%, plus a 5.5% solidarity surcharge thereon totaling 26.375% and church
tax, in case the shareholder is subject to church tax because of his or her personal circumstances. An automatic procedure for deduction
of church tax by way of withholding will apply to shareholders being subject to church tax unless the shareholder has filed a blocking
notice (<I>Sperrvermerk</I>) with the German Federal Central Tax Office (details related to the computation of the specific tax rate
including church tax are to be discussed with the personal tax adviser of the relevant shareholder). The taxable capital gain is calculated
by deducting the acquisition costs of the ordinary shares and the expenses directly and materially related to the disposal from the proceeds
of the disposal. Apart from that, except for an annual lump sum savings allowance (<I>Sparer-Pauschbetrag</I>) of up to &euro;801 (for
individual filers) or up to &euro;1,602 (for married couples and for partners in accordance with the registered partnership law (<I>Gesetz
&uuml;ber die Eingetragene Lebenspartnerschaft</I>) filing jointly), private individual shareholders will not be entitled to deduct expenses
incurred in connection with the capital investment from their capital gain. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> In case the flat tax results in a higher tax burden as opposed
to the private individual shareholder&rsquo;s personal income tax rate, the private individual shareholder can opt for taxation at his
or her personal income tax rate. In that case, the withholding tax (including solidarity surcharge) withheld will be credited against
the income tax. The option can be exercised only for all capital income from capital investments received in the relevant assessment
period uniformly and married couples as well as for partners in accordance with the registered partnership law filing jointly may only
jointly exercise the option. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Capital losses arising from the disposal of the ordinary shares can
only be offset against other capital gains resulting from the disposition of the ordinary shares or shares in other stock corporations
during the same calendar year. Offsetting of overall losses with other income (such as business or rental income) and other capital income
is not possible. Such losses are to be carried forward and to be offset against positive capital gains deriving from the disposal of ordinary
shares in stock corporations in future years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> The final withholding tax (<I>Abgeltungsteuer</I>) will not apply
if the seller of the ordinary shares or in case of gratuitous transfer, its legal predecessor has held, directly or indirectly, at least
1% of the company&rsquo;s registered share capital at any time during the five years prior to the disposal. In that case capital gains
are subject to the partial income rule (<I>Teileink&uuml;nfteverfahren</I>). Accordingly, only (i) 60% of the capital gains will be taxed
at his/her personal income tax rate, plus a 5.5% solidarity surcharge thereon and church tax (if applicable) and (ii) 60% of the business
expenses related to the capital gains are deductible for tax purposes. The withholding tax withheld (including solidarity surcharge)
will be credited against the shareholder&rsquo;s personal income tax liability in Germany. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">Taxation of Capital Gains Realized by Shareholders Tax Resident
in Germany Holding Immatics&rsquo; Ordinary Shares as Business Assets</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If a shareholder holds ordinary shares as business assets, the taxation
of capital gains realized on the disposal of such shares depends on whether the respective shareholder is a corporation, a sole proprietor
or a partnership:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">Corporations</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Capital gains realized on the disposal of ordinary shares by a corporate
shareholder are generally exempt from corporate income tax and trade tax. However, 5% of the tax-exempt capital gains are deemed to be
non-deductible business expenses for tax purposes and therefore are effectively subject to corporate income tax (plus solidarity surcharge)
and trade tax; i.e., tax exemption of 95%. Business expenses incurred in connection with the capital gains are entirely tax deductible.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Capital losses incurred upon the disposal of ordinary shares or other
impairments of the share value are not tax deductible. A reduction of profit is also defined as any losses incurred in connection with
a loan or security in the event the loan or the security is granted by a shareholder or by a related party thereto or by a third person
with the right of recourse against the before mentioned persons and the shareholder holds directly or indirectly more than 25% of the
company&rsquo;s registered share capital.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Special regulations apply, if the ordinary shares are held as trading
portfolio assets by a credit institution, a financial service institution or a financial enterprise within the meaning of the German
Banking Act (<I>Kreditwesengesetz</I>) as well as by a life insurance company, a health insurance company or a pension fund (see &ldquo;&mdash;Material
German Tax Considerations&mdash;Taxation of Capital Gains&mdash;Corporations&rdquo;). </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sole Proprietors</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> If the ordinary shares are held by a sole proprietor, capital gains
realized on the disposal of the ordinary shares are subject to the partial income rule (<I>Teileink&uuml;nfteverfahren</I>). Accordingly,
only (i) 60% of the capital gains will be taxed at his/her personal income tax rate plus a 5.5% solidarity surcharge thereon and church
tax (if applicable) and (ii) 60% of the business expenses related to the dividend income are deductible for tax purposes. In addition,
60% of the capital gains are subject to trade tax if the ordinary shares are held as business assets of a permanent establishment in
Germany within the meaning of the German Trade Tax Act (<I>Gewerbesteuergesetz</I>). The trade tax levied, depending on the applicable
municipal trade tax rate and the individual tax situation, is partly or entirely be credited against the shareholder&rsquo;s personal
income tax liability. As from 2021 onwards, the solidarity surcharge has been be abolished in case a certain income threshold is not
exceeded. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">Partnerships</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In case the ordinary shares are held by a partnership, the partnership
itself is not subject to corporate income tax or personal income tax as well as solidarity surcharge (and church tax) since partnerships
qualify as transparent for German income tax purposes. In this regard, corporate income tax or personal income tax as well as solidarity
surcharge (and church tax, if applicable) are levied only at the level of the partner with respect to their relevant part of the partnership&rsquo;s
taxable income and depending on their individual circumstances:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>If the partner is a corporation, the capital gains will be subject to corporate income tax plus solidarity surcharge (see above &ldquo;Corporations&rdquo;).
Trade tax will be levied additionally at the level of the partner insofar as the relevant profit of the partnership is not subject to
trade tax at the level of the partnership. However, with respect to both corporate income and trade tax, the 95%-exemption rule as described
above applies. With regard to corporate partners, special regulations apply if they are held as trading portfolio assets by credit institutions,
financial service institutions or financial enterprises within the meaning of the German Banking Act or life insurance companies, health
insurance companies or pension funds, as described above.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>If the partner is a sole proprietor (individual), the capital gains are subject to the partial income rule (see above &ldquo;Sole
proprietors&rdquo;).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> In addition, if the partnership is liable to German trade tax,
60% of the capital gains are subject to trade tax at the level of the partnership, to the extent the partners are individuals, and 5%
of the capital gains are subject to trade tax, to the extent the partners are corporations. However, if a partner is a private individual
the trade tax paid at the level of the is credited against the partner&rsquo;s personal income tax liability at up to 4.0 times the trade
tax measurement amount (<I>Gewerbesteuer-Messbetrag</I>) depending on the applicable municipal trade tax levy rate and the personal tax
situation. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">Taxation of Capital Gains Realized by Shareholders Tax Resident
Outside of Germany</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Capital gains realized on the disposal of the ordinary shares by a
shareholder tax resident outside of Germany are subject to German taxation provided that (i) the company&rsquo;s ordinary shares are held
as business assets of a permanent establishment or as business assets for which a permanent representative has been appointed in Germany,
or (ii) the shareholder or, in case of a gratuitous transfer, its legal predecessor has held, directly or indirectly at least 1% of the
company&rsquo;s shares capital at any time during a five-year period prior to the disposal. In these cases, capital gains are generally
subject to the same rules as described above for shareholders resident in Germany. However, except for the cases referred to in (i) above,
most double tax treaties concluded by Germany provide for a full exemption from German taxation except that that the company is considered
a real estate holding entity for treaty purposes. Further, in case of non-German corporation, the participation exemption applies in full
resulting in a tax exemption of 100% (i.e., no deemed non-tax-deductible business expenses).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Inheritance and Gift Tax</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The transfer of Immatics&rsquo; ordinary shares to another person by
way of succession or donation is subject to German inheritance and gift tax (<I>Erbschaft- und Schenkungsteuer</I>) if:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD>the decedent, the donor, the heir, the donee or any other beneficiary has his/her/its residence, domicile, registered office or place
of management in Germany at the time of the transfer, or is a German citizen who has not stayed abroad for more than five consecutive
years without having a residence in Germany; or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(ii)</TD><TD>(irrespective of the personal circumstances) the ordinary shares are held by the decedent or donor as business assets for which a
permanent establishment in Germany is maintained or a permanent representative is appointed in Germany; or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(iii)</TD><TD>(irrespective of the personal circumstances) at least 10% of the ordinary shares are held directly or indirectly by the decedent or
person making the gift, himself or together with a related party in terms of Section 6 Foreign Tax Act.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Special regulations apply to qualified German citizens who maintain
neither a residence nor their domicile in Germany but in a low tax jurisdiction and to former German citizens, also resulting in inheritance
and gift tax. The few double tax treaties on inheritance and gift tax which Germany has entered into provide that German inheritance and
gift tax is levied only in case of (i) and, with certain restrictions, in case of (ii).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Value Added Tax (VAT)</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">No German value added tax (<I>Umsatzsteuer</I>) will be payable by
a shareholder in respect of any purchase, ownership and disposal of the ordinary shares except for a valid option to waive VAT exemption
requiring a sale between entrepreneurs for VAT purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Transfer Taxes</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">No German capital transfer tax (<I>Kapitalverkehrsteuer</I>) or stamp
duty (<I>Stempelgeb&uuml;hr</I>) or similar taxes are levied when acquiring, owning or transferring the company&rsquo;s ordinary shares.
Net wealth tax (<I>Verm&ouml;gensteuer</I>) is currently not levied in Germany.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> On January 22, 2013, the Council of the European Union approved
the resolution of the ministers of finance from eleven EU member states (including Germany) to introduce a financial transaction tax
(&ldquo;FTT&rdquo;) within the framework of enhanced cooperation. On February 14, 2013, the European Commission accepted the proposal
for a Council Directive implementing enhanced cooperation in the area of FTT. The plan focuses on levying a financial tax of 0.1% (0.01%
for derivatives) on the purchase and sale of financial instruments. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> A joint statement issued by ten of the eleven participating EU
Member States in October 2016 reaffirmed the intention to introduce an FTT. However, at the moment not many details are available. Thus,
it is not known to what extent the elements of the European Commission&rsquo;s proposal outlined in the preceding paragraph will be followed
in relation to the taxation of shares. The FTT proposal remains subject to negotiation between the participating EU Member States and
is subject to political discussion. It may therefore be altered prior to the implementation, the timing of which remains unclear. With
the EU Council&rsquo;s conclusion of COVID-19 financial support and the Portuguese presidency of the EU Council proposing an inclusive
discussion on tax design issues of the FTT at the EU level in February 2021 the agreement on an FTT becomes more realistic as one of
the measures to fund the EU&rsquo;s response to the COVID-19 pandemic. Additional EU Member States may decide to participate. If an EU-wide
FTT (see above) fails, representatives of the IfW (Institute for the World Economy) intend to advocate the introduction of a comprehensive
version of the tax in Germany after the COVID-19 pandemic. Prospective holders of the ordinary shares are advised to seek their own professional
advice in relation to FTT. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="expenses"></A> EXPENSES OF THE
OFFERING </P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> We expect that our expenses in connection with this offering will
be as follows: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> Expenses </TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> Amount </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(213,234,234)">
    <TD STYLE="width: 89%; text-align: left"> SEC registration fee&#9; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 8%; text-align: right"> 52,508 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"> Printing expenses&#9; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 10,000 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(213,234,234)">
    <TD STYLE="text-align: left"> Legal fees and expenses&#9; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 150,000 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"> Accounting fees and expenses&#9; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 30,000 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(213,234,234)">
    <TD STYLE="text-align: left"> Transfer agent fees and expenses&#9; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 10,000 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt"> Miscellaneous costs&#9; </TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"> 50,000 </TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(213,234,234)">
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt"> Total&#9; </TD><TD STYLE="padding-bottom: 2.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"> 302,508 </TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: left"> &nbsp; </TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> All amounts in the table are estimates except the SEC registration
fee. We will pay fees and expenses incurred by us incident to the registration of the securities. If any shares are sold, the selling
shareholders will pay any brokerage commissions and/or similar charges incurred for the sale of such shares. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="legal"></A>LEGAL MATTERS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> The validity of the ordinary shares offered and certain other matters
with respect to Dutch law will be passed upon for us by CMS Derks Star Busmann N.V., Amsterdam, The Netherlands. Certain matters with
respect to U.S. federal and New York State law will be passed upon for us by Davis Polk &amp; Wardwell LLP, New York, New York. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="experts"></A>EXPERTS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> The financial statements incorporated in this prospectus by reference
to the Annual Report on Form 20-F for the year ended December 31, 2020 have been so incorporated in reliance on the report of PricewaterhouseCoopers
GmbH Wirtschaftspr&uuml;fungsgesellschaft, an independent registered public accounting firm, given on the authority of said firm as experts
in auditing and accounting. <FONT STYLE="background-color: white">PricewaterhouseCoopers GmbH Wirtschaftspr&uuml;fungsgesellschaft is
a member of the Chamber of Public Accountants (<I>Wirtschaftspr&uuml;ferkammer</I>), Berlin, Germany</FONT>. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="enforcement"></A> ENFORCEMENT
OF JUDGMENTS </P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> We are a public company with limited liability (<I>naamloze vennootschap</I>)
incorporated under the laws of the Netherlands and our headquarters is located in Germany. Substantially all of our assets are located
outside the United States. The majority of our executive officers and directors reside outside the United States. As a result, it may
not be possible for investors to effect service of process within the United States upon us or upon such persons or to enforce against
them judgments obtained in U.S. courts, including judgments in actions predicated upon the civil liability provisions of the federal
securities laws of the United States. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> There is currently no treaty between the United States and the
Netherlands for the mutual recognition and enforcement of judgments (other than arbitration awards) in civil and commercial matters.
Therefore, a final&nbsp;judgment for the payment of money rendered by any federal or state court in the United States based on civil
liability, whether or not predicated solely upon the U.S. federal securities laws, would not be enforceable in the Netherlands unless
the underlying claim is relitigated before a Dutch court of competent jurisdiction. Under current practice, however, a Dutch court will
generally, subject to compliance with certain procedural requirements, grant the same judgment without a review of the merits of the
underlying claim if such judgment (i)&nbsp;is a final judgment and has been rendered by a court, which has established its jurisdiction
vis-&agrave;-vis the relevant Dutch companies or Dutch company, as the case may be, on the basis of internationally accepted grounds
of jurisdiction, (ii)&nbsp;has not been rendered in violation of principles of proper procedure (<I>behoorlijke&nbsp;rechtspleging</I>),
(iii)&nbsp;is not contrary to the public policy of the Netherlands, and (iv)&nbsp;is not incompatible with (a) a prior judgment of a
Dutch court rendered in a dispute between the same parties, or (b)&nbsp;a prior judgment of a foreign court rendered in a dispute between
the same parties, concerning the same subject matter and based on the same cause of action, provided that such prior judgment is capable
of being recognized in the Netherlands and except to the extent that the foreign judgment contravenes Dutch public policy (<I>openbare&nbsp;orde</I>).
Dutch courts may deny the recognition and enforcement of punitive damages or other awards. Moreover, a Dutch court may reduce the amount
of damages granted by a U.S. court and recognize damages only to the extent that they are necessary to compensate actual losses or damages.
Enforcement and recognition of judgments of U.S. courts in the Netherlands are solely governed by the provisions of the Dutch Code of
Civil Procedure. Based on the foregoing, there can be no assurance that U.S. investors will be able to enforce any judgments obtained
in U.S. courts in civil and commercial matters, including judgments under the U.S. federal securities laws. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> The United States and Germany currently do not have a treaty providing
for the reciprocal recognition and enforcement of judgments in civil and commercial matters. Consequently, a final judgment for payment
or declaratory judgments given by a court in the United States, whether or not predicated solely upon U.S.&nbsp;securities laws, would
not automatically be recognized or enforceable in Germany. German courts may deny the recognition and enforcement of a judgment rendered
by a U.S. court if they consider the U.S. court not to be competent or the decision to be in violation of German public policy principles.
For example, judgments awarding punitive damages are generally not enforceable in Germany. A German court may reduce the amount of damages
granted by a U.S. court and recognize damages only to the extent that they are necessary to compensate actual losses or damages. In addition,
actions brought in a German court against us, our directors, our senior management and the experts named herein to enforce liabilities
based on U.S. federal securities laws may be subject to certain restrictions. In particular, German courts generally do not award punitive
damages. Litigation in Germany is also subject to rules of procedure that differ from the U.S. rules, including with respect to the taking
and admissibility of evidence, the conduct of the proceedings and the allocation of costs. German procedural law does not provide for
pre-trial discovery of documents, nor does Germany support pre-trial discovery of documents under the 1970&nbsp;Hague Evidence Convention.
Proceedings in Germany would have to be conducted in the German language and all documents submitted to the court would, in principle,
have to be translated into German. For these reasons, it may be difficult for a U.S. investor to bring an original action in a German
court predicated upon the civil liability provisions of the U.S. federal securities laws against us, our directors, our senior management
and the experts named in this prospectus. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><BR STYLE="clear: both">
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="where"></A>WHERE YOU CAN FIND MORE INFORMATION</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We are subject to the informational requirements of the Exchange Act.
Accordingly, we are required to file reports and other information with the SEC, including annual reports on Form 20-F and reports on
Form 6-K. The SEC maintains an Internet site at <I>www.sec.gov</I> that contains reports, proxy and information statements and other information
we have filed electronically with the SEC. As a foreign private issuer, we are exempt under the Exchange Act from, among other things,
the rules prescribing the furnishing and content of proxy statements, and our executive officers, directors and principal shareholders
are exempt from the reporting and short-swing profit recovery provisions contained in Section 16 of the Exchange Act. In addition, we
are not required under the Exchange Act to file periodic reports and financial statements with the SEC as frequently or as promptly as
U.S. companies whose securities are registered under the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> We have filed with the SEC a &ldquo;shelf&rdquo; registration statement
(including amendments and exhibits to the registration statement) on Form F-3 under the Securities Act. This prospectus, which is part
of the registration statement, does not contain all of the information set forth in the registration statement and the exhibits and schedules
to the registration statement. We have omitted parts of the registration statement in accordance with the rules and regulations of the
SEC. For more detail about us and the securities that may be offered by this prospectus, you may examine the registration statement on
Form F-3 and the exhibits filed with it at the website provided in the previous paragraph. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> We maintain a corporate website at <I>www.immatics.com</I>. The
reference to our website is an inactive textual reference only, and information contained therein or connected thereto is not incorporated
into this prospectus or the registration statement of which it forms a part. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="information"></A> INFORMATION
INCORPORATED BY REFERENCE </P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> The rules of the SEC allow us to incorporate by reference information
in this prospectus, which means that we disclose important information to you by referring you to another document filed separately with
the SEC. The information incorporated by reference in this prospectus is considered to be a part of this prospectus. Any statement made
in this prospectus or in a document incorporated or deemed to be incorporated by reference in this prospectus will be deemed to be modified
or superseded for purposes of this prospectus to the extent that a statement contained in this prospectus or in any other subsequently
filed document that is also incorporated or deemed to be incorporated by reference in this prospectus modifies or supersedes that statement.
Any statement so modified or superseded will not be deemed, except as so modified or superseded, to constitute a part of this prospectus.
This prospectus incorporates by reference the documents listed below: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> <A HREF="https://www.sec.gov/Archives/edgar/data/0001809196/000119312520189264/d948863d20f.htm">our Annual Report on Form 20-F for the year ended December 31, 2020;</A> </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> our Report on Form
                                            6-K filed with the SEC on <A HREF="https://www.sec.gov/Archives/edgar/data/0001809196/000119312521164632/d172954d6k.htm">May 18, 2021</A> (only with respect to Exhibit 99.1 thereto), <A HREF="https://www.sec.gov/Archives/edgar/data/0001809196/000095010321007857/dp151725_6k.htm">May 26, 2021</A> and <A HREF="https://www.sec.gov/Archives/edgar/data/0001809196/000095010321009165/dp153071_6k.htm">June 22, 2021</A>; and </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD> <A HREF="https://www.sec.gov/Archives/edgar/data/0001809196/000119312520184871/d936803d8a12b.htm">our Registration Statement on Form 8-A filed with the SEC on July 1, 2020, which incorporates by reference the description of our ordinary shares from our Registration Statement on Form F-4, and any amendment or report filed for the purpose of updating such description.</A> </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> All subsequent annual reports on Form 20-F, Form 40-F or Form 10-K
that we file with the SEC and all subsequent filings on Forms 10-Q and 8-K filed by us with the SEC pursuant to the Exchange Act (excluding,
in each case, any information or documents deemed to be furnished and not filed with the SEC), after the date hereof and prior to the
completion or termination of this offering, shall be incorporated by reference. We may incorporate by reference any reports on Form 6-K
that we furnish to the SEC that we specifically identify in such form as being incorporated by reference into this prospectus after the
date hereof and prior to the completion or termination of the offering of securities under this prospectus. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> You can obtain any of the filings incorporated by reference in
this prospectus through us or from the SEC through the SEC&rsquo;s website at <I>www.sec.gov</I>. Our filings with the SEC, including
our Annual Reports on Form 20-F and Reports on Form 6-K and exhibits incorporated in and amendments to those reports, are also available
free of charge on our website (<I>www.immatics.com</I>) as soon as reasonably practicable after they are filed with, or furnished to,
the SEC. The reference to our website is an inactive textual reference only, and information contained therein or connected thereto is
not incorporated into this prospectus or the registration statement of which it forms a part. We will provide to each person, including
any beneficial owner, to whom this prospectus is delivered, a copy of any or all the reports or documents incorporated by reference in
this prospectus at no cost, upon written or oral request to us at the following address: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> Investor Relations<BR>
Immatics N.V.<BR>
c/o Immatics US, Inc.<BR>
2130 W. Holcombe Blvd., Suite 900<BR>
Houston, Texas 77030<BR>
(281) 810-7545 </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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    <TD STYLE="width: 100%; border-top: Black 4.5pt double; font-size: 12pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="image_002.jpg" ALT="Downloads | Immatics N.V." STYLE="height: 94px; width: 254px"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 20pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>IMMATICS N.V.</B></P>

<P STYLE="font: 20pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"> <B>39,332,281 Ordinary
Shares</B> </P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROSPECTUS</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"><B>, 2021</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 100%; border-bottom: Black 4.5pt double; font-size: 10pt">&nbsp;</TD></TR>
  </TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART II</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INFORMATION NOT REQUIRED IN THE PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"> <B>Item 8.</B> </TD><TD> <B>Indemnification of Directors and Officers</B> </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Under Dutch law, directors of a Dutch public company may be held
jointly and severally liable to the company for damages in the event of improper performance of their duties. In addition, directors
may be held liable to third parties for any actions that may give rise to a tort. This applies equally to our non-executive directors
and executive directors. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Pursuant to our articles of association and unless Dutch law provides
otherwise, the following will be reimbursed to actual and former non-executive directors and executive directors and other members of
the executive committee: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD>the costs of conducting a defense against claims, also including claims by the company and its group companies, as a consequence of
any acts or omissions in the fulfillment of their duties or any other duties currently or previously performed by them at our request;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(ii)</TD><TD>any damages or financial penalties payable by them as a result of any such acts or omissions;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(iii)</TD><TD>any amounts payable by them under settlement agreements entered into by them in connection with any such acts or omissions;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(iv)</TD><TD>the costs of appearing in other legal proceedings in which they are involved in such capacity, with the exception of proceedings primarily
aimed at pursuing a claim on their own behalf; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(v)</TD><TD>any taxes payable by them as a result of any reimbursements.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> No indemnification shall be given to an indemnified officer or
director under our articles of association where: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD>it has been adjudicated by a Dutch court or, in the case of arbitration, an arbitrator, in a final and conclusive decision that the
act or omission may be characterized as intentional, deliberately reckless or grossly negligent conduct, unless Dutch law provides otherwise
or this would, in view of the circumstances of the case, be unacceptable according to standards of reasonableness and fairness; or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> (ii) </TD><TD> the costs or financial loss are covered by insurance and the
                                            insurer has paid out the costs or financial loss. </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> We have entered into an indemnification agreement with each of
our directors and executive officers. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Insofar as indemnification for liabilities arising under the Securities
Act of 1933, as amended (the &ldquo;Securities Act&rdquo;) may be permitted to directors, officers and controlling persons of the Company,
the Company has been advised that, in the opinion of the U.S. Securities and Exchange Commission (the &ldquo;SEC&rdquo;), such indemnification
is against public policy as expressed in the Securities Act and is, therefore, unenforceable. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"> <B>Item 9.</B> </TD><TD> <B>Exhibits</B> </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The exhibit index attached hereto is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"> <B>Item 10.</B> </TD><TD> <B>Undertakings</B> </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> The undersigned hereby undertakes: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 20.15pt"></TD><TD STYLE="width: 18pt"> (a) </TD><TD> to file, during any period in which offers or sales are being
                                            made, a post-effective amendment to this registration statement: </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 22.5pt"> (1) </TD><TD> to include any prospectus required by section 10(a)(3) of the Securities
                                            Act; </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 22.5pt"> (2) </TD><TD> to reflect in the prospectus any facts or events arising after
                                            the effective date of this registration statement (or the most recent post-effective amendment
                                            thereof) which, individually or in the aggregate, represent a fundamental change in the information
                                            set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease
                                            in volume of securities offered (if the total dollar value of securities offered would not
                                            exceed that which was registered) and any deviation from the low or high end of the estimated
                                            maximum offering range may be reflected in the form of prospectus filed with the Securities
                                            and Exchange Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume
                                            and price represent no more than a 20% change in the maximum aggregate offering price set
                                            forth in the &ldquo;Calculation of Registration Fee&rdquo; table in the effective registration
                                            statement; and </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 22.5pt">(3)</TD><TD>to include any material information with respect to the plan of distribution not previously disclosed in the registration statement
or any material change to such information in the registration statement;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 20.15pt"> provided, however, that paragraphs (a)(1), (a)(2) and
(a)(3) of this section do not apply if the registration statement is on Form S-3 or Form F-3 and the information required to be included
in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the registrant
pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in the registration statement, or is contained
in a form of prospectus filed pursuant to Rule 424(b) that is part of the registration statement. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 20.15pt"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 20.15pt"></TD><TD STYLE="width: 18pt"> (b) </TD><TD> that, for purposes of determining any liability under the Securities
                                            Act, each such post-effective amendment shall be deemed to be a new registration statement
                                            relating to the securities offered therein, and the offering of such securities at that time
                                            shall be deemed to be the initial bona fide offering thereof; </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 20.15pt"></TD><TD STYLE="width: 18pt"> (c) </TD><TD> to remove from registration by means of a post-effective amendment
                                            any of the securities being registered which remain unsold at the termination of the offering; </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 20.15pt"></TD><TD STYLE="width: 18pt"> (d) </TD><TD> to file a post-effective amendment to the registration statement
                                            to include any financial statements required by Item 8.A of Form 20-F at the start of any
                                            delayed offering or throughout a continuous offering. Financial statements and information
                                            otherwise required by Section 10(a)(3) of the Securities Act need not be furnished,&nbsp;provided&nbsp;that
                                            the&nbsp;registrant&nbsp;includes in the prospectus, by means of a post-effective amendment,
                                            financial statements required pursuant to this paragraph (d) and other information necessary
                                            to ensure that all other information in the prospectus is at least as current as the date
                                            of those financial statements. Notwithstanding the foregoing, with respect to registration
                                            statements on Form F-3, a post-effective amendment need not be filed to include financial
                                            statements and information required by Section 10(a)(3) of the Securities Act or Item 8.A
                                            of Form 20-F if such financial statements and information are contained in periodic reports
                                            filed with or furnished to the Commission by the registrant pursuant to Section 13 or Section
                                            15(d) of the Exchange Act that are incorporated by reference in the Form F-3; </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 20.15pt"></TD><TD STYLE="width: 18pt"> (e) </TD><TD> that, for the purpose of determining liability under the Securities
                                            Act to any purchaser: </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 22.5pt"> (1) </TD><TD> each prospectus filed by the registrant pursuant to Rule 424(b)(3)
                                            shall be deemed to be part of the registration statement as of the date the filed prospectus
                                            was deemed part of and included in the registration statement; and </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 22.5pt"> (2) </TD><TD> each prospectus required to be filed pursuant to Rule 424(b)(2),
                                            (b)(5), or (b)(7) as part of a registration statement in reliance on Rule 430B relating to
                                            an offering made pursuant to Rule 415(a)(1)(i), (vii), or (x) for the purpose of providing
                                            the information required by Section 10(a) of the Securities Act shall be deemed to be part
                                            of and included in the registration statement as of the earlier of the date such form of
                                            prospectus is first used after effectiveness or the date of the first contract of sale of
                                            securities in the offering described in the prospectus. As provided in Rule 430B, for liability
                                            purposes of the issuer and any person that is at that date an underwriter, such date shall
                                            be deemed to be a new effective date of the registration statement relating to the securities
                                            in the registration statement to which that prospectus relates, and the offering of such
                                            securities at that time shall be deemed to be the initial bona fide offering thereof. Provided,
                                            however, that no statement made in a registration statement or prospectus that is part of
                                            the registration statement or made in a document incorporated or deemed incorporated by reference
                                            into the registration statement or prospectus that is part of the registration statement
                                            will, as to a purchaser with a time of contract of sale prior to such effective date, supersede
                                            or modify any statement that was made in the registration statement or prospectus that was
                                            part of the registration statement or made in any such document immediately prior to such
                                            effective date; and </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 20.15pt"></TD><TD STYLE="width: 18pt"> (f) </TD><TD> that, for the purpose of determining liability of the registrant
                                            under the Securities Act to any purchaser in the initial distribution of the securities,
                                            the undersigned registrant undertakes that in a primary offering of securities of the undersigned
                                            registrant pursuant to this registration statement, regardless of the underwriting method
                                            used to sell the securities to the purchaser, if the securities are offered or sold to such
                                            purchaser by means of any of the following communications, the undersigned registrant will
                                            be a seller to the purchaser and will be considered to offer or sell such securities to such
                                            purchaser: </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 22.5pt"> (1) </TD><TD> any preliminary prospectus or prospectus of the undersigned registrant
                                            relating to the offering required to be filed pursuant to Rule 424; </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 22.5pt"> (2) </TD><TD> any free writing prospectus relating to the offering prepared by
                                            or on behalf of the undersigned registrant or used or referred to by the undersigned registrant; </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 22.5pt"> (3) </TD><TD> the portion of any other free writing prospectus relating to the
                                            offering containing material information about the undersigned registrant or its securities
                                            provided by or on behalf of the undersigned registrant; and </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 22.5pt"> (4) </TD><TD> any other communication that is an offer in the offering made by
                                            the undersigned registrant to the purchaser. </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> &nbsp; </P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> The undersigned hereby undertakes that, for purposes of determining
any liability under the Securities Act, each filing of the registrant&rsquo;s annual report pursuant to Section&nbsp;13(a) or Section&nbsp;15(d)
of the Exchange Act (and, where applicable, each filing of an employee benefit plan&rsquo;s annual report pursuant to Section&nbsp;15(d)
of the Exchange Act) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial&nbsp;bona
fide<I>&nbsp;</I>offering thereof. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Insofar as indemnification for liabilities arising under the Securities
Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise,
the registrant has been advised that, in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities
Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment
by the registrant of expenses incurred or paid by a director, officer, or controlling person of the registrant in the successful defense
of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being
registered, the registrant will, unless, in the opinion of its counsel, the matter has been settled by controlling precedent, submit
to a court of appropriate jurisdiction the question of whether such indemnification by it is against public policy as expressed in the
Securities Act and will be governed by the final adjudication of such issue. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> The following documents are filed as part of this registration
statement: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<TABLE CELLSPACING="0" CELLPADDING="2" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt"> &nbsp; </TD>
    <TD COLSPAN="4" STYLE="border-bottom: black 1pt solid; font-size: 10pt; text-align: center"> <FONT STYLE="font-size: 8pt"><B>Incorporation
    by Reference</B></FONT> </TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt"><B>Exhibit No.</B></FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt"><B>Description</B></FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top; font-size: 10pt"> <FONT STYLE="font-size: 8pt"><B>Form</B></FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top; font-size: 10pt"> <FONT STYLE="font-size: 8pt"><B>File No.</B></FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top; font-size: 10pt"> <FONT STYLE="font-size: 8pt"><B>Exhibit No.</B></FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top; font-size: 10pt"> <FONT STYLE="font-size: 8pt"><B>Filing Date</B></FONT> </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt"> <FONT STYLE="font-size: 8pt">2.1</FONT> </TD>
    <TD STYLE="vertical-align: top; font-size: 10pt"> <FONT STYLE="font-size: 8pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1809196/000119312520108419/d865842df4.htm#anxa">Business
    Combination Agreement, dated as of March 17, 2020, by and among ARYA Sciences Acquisition Corp., Immatics Biotechnologies GmbH, Immatics
    B.V., Immatics Merger Sub 1 and Immatics Merger Sub 2</A></FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">F-4</FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">333-237702</FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">2.1</FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">April 16, 2020</FONT> </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt"> <FONT STYLE="font-size: 8pt">2.2</FONT> </TD>
    <TD STYLE="vertical-align: top; font-size: 10pt"> <FONT STYLE="font-size: 8pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1809196/000119312520163109/d865842dex22.htm">Amendment
    No. 1 to Business Combination Agreement, dated as of June 7, 2020, by and among ARYA Sciences Acquisition Corp., Immatics Biotechnologies
    GmbH, Immatics B.V., Immatics Merger Sub 1 and Immatics Merger Sub 2</A></FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">F-4</FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">333-237702</FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">2.2</FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">June 8, 2020</FONT> </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt"> <FONT STYLE="font-size: 8pt">2.3</FONT> </TD>
    <TD STYLE="vertical-align: top; font-size: 10pt"> <FONT STYLE="font-size: 8pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1809196/000119312520163109/d865842dex23.htm">Plan
    of First Merger</A></FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">F-4</FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">333-237702</FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">2.3</FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">June 8, 2020</FONT> </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt"> <FONT STYLE="font-size: 8pt">2.4</FONT> </TD>
    <TD STYLE="vertical-align: top; font-size: 10pt"> <FONT STYLE="font-size: 8pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1809196/000119312520163109/d865842dex24.htm">Plan
    of Second Merger</A></FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">F-4</FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">333-237702</FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">2.4</FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">June 8, 2020</FONT> </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt"> <FONT STYLE="font-size: 8pt">4.1</FONT> </TD>
    <TD STYLE="vertical-align: top; font-size: 10pt"> <FONT STYLE="font-size: 8pt"><A HREF="https://www.sec.gov/Archives/edgar/data/0001809196/000119312520162185/d865842dex41.htm">Deed
    of Conversion of Immatics B.V. and Articles of Association of Immatics N.V.</A></FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">F-1</FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">333-240260</FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">3.1</FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">July 31, 2020</FONT> </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt"> <FONT STYLE="font-size: 8pt">4.2</FONT> </TD>
    <TD STYLE="vertical-align: top; font-size: 10pt"> <FONT STYLE="font-size: 8pt"><A HREF="https://www.sec.gov/Archives/edgar/data/0001809196/000119312520162185/d865842dex41.htm">Amended and Restated Warrant Agreement, between Continental Stock Transfer&nbsp;&nbsp;&amp; Trust Company, Immatics B.V. and ARYA Sciences Acquisition Corp.</A></FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">F-4</FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">333-237702</FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">4.1</FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">June 5, 2020</FONT> </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt"> <FONT STYLE="font-size: 8pt">4.3</FONT> </TD>
    <TD STYLE="vertical-align: top; font-size: 10pt"> <FONT STYLE="font-size: 8pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1809196/000119312520206488/d96389dex101.htm">Investor Rights and Lock-up Agreement</A></FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">F-1</FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">333-240260</FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">10.1</FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">July 31, 2020</FONT> </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt"> <FONT STYLE="font-size: 8pt">5.1</FONT> </TD>
    <TD STYLE="vertical-align: top; font-size: 10pt"> <FONT STYLE="font-size: 8pt"><A HREF="https://www.sec.gov/Archives/edgar/data/0001809196/000119312520206488/d96389dex51.htm">Opinion
    of CMS Derks Star Busmann N.V., Dutch counsel of Immatics N.V.</A></FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">F-1</FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">333-240260</FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">5.1</FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">July 31, 2020</FONT> </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt"> <FONT STYLE="font-size: 8pt">23.1</FONT> </TD>
    <TD STYLE="vertical-align: top; font-size: 10pt"> <FONT STYLE="font-size: 8pt"><A HREF="dp155592_ex2301.htm">Consent of PricewaterhouseCoopers
    GmbH Wirtschaftspr&uuml;fungsgesellschaft, independent registered public accounting firm</A></FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> &nbsp; </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt"> <FONT STYLE="font-size: 8pt">23.2</FONT> </TD>
    <TD STYLE="vertical-align: top; font-size: 10pt"> <FONT STYLE="font-size: 8pt"><A HREF="https://www.sec.gov/Archives/edgar/data/0001809196/000119312520206488/d96389dex51.htm">Consent
    of CMS Derks Star Busmann N.V., Dutch counsel of Immatics N.V. (included in Exhibit 5.1)</A></FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">F-1</FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">333-240260</FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">5.1</FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">July 31, 2020</FONT> </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt"> <FONT STYLE="font-size: 8pt">24.1</FONT> </TD>
    <TD STYLE="vertical-align: top; font-size: 10pt"> <FONT STYLE="font-size: 8pt"><A HREF="#signature">Powers of attorney (included
    on signature page to the registration statement)</A></FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">F-1</FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">333-240260</FONT> </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> <FONT STYLE="font-size: 8pt">July 31, 2020</FONT> </TD></TR>
  </TABLE>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"><A HREF="#toc" TITLE="Table of Contents">Table of Contents</A>&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="signature"></A>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Pursuant to the requirements of the Securities Act of 1933, as
amended (the &ldquo;Securities Act&rdquo;) the registrant certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form F-3 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the city of T&uuml;bingen, Germany on August 2, 2021. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: bottom; font-size: 10pt">IMMATICS N.V.</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; width: 48%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 5%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 39%; font-size: 10pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">By:</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font-size: 10pt">/s/ Harpreet Singh</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Name:</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Harpreet Singh</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Title:</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"> Chief Executive Officer and Director </TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature
appears below hereby constitutes and appoints Harpreet Singh, Arnd Christ and Edward A. Sturchio and each of them, individually, as his
or her true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for him or her and in his or
her name, place and stead in any and all capacities, in connection with this registration statement, including to sign in the name and
on behalf of the undersigned, this registration statement and any and all amendments thereto, including post-effective amendments and
registrations filed pursuant to Rule 462 under the Securities Act, and to file the same, with all exhibits thereto, and other documents
in connection therewith, with the U.S. Securities and Exchange Commission, granting unto such attorneys-in-fact and agents full power
and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to
all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents,
or his or her substitute, may lawfully do or cause to be done by virtue hereof. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Pursuant to the requirements of the Securities Act, this registration
statement has been signed by the following persons on August 2, 2021 in the capacities indicated: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%; border-bottom: black 1pt solid; text-align: center"> <B>Name</B> </TD>
    <TD STYLE="width: 2%; text-align: center"> &nbsp; </TD>
    <TD STYLE="width: 48%; border-bottom: black 1pt solid; text-align: center"> <B>Title</B> </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center"> /s/ Harpreet Singh </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD>
    <TD ROWSPAN="2"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> Chief Executive Officer and Director </P>

    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> (principal executive officer) </P>
</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"> Harpreet Singh </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center"> /s/ Arnd Christ </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD>
    <TD ROWSPAN="2"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> Chief Financial Officer </P>

    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> (principal financial and accounting officer) </P>
</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"> Arnd Christ </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center"> * </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD>
    <TD ROWSPAN="2" STYLE="text-align: center"> Chairman of the Board of Directors </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"> Peter Chambr&eacute; </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center"> * </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD>
    <TD STYLE="text-align: center"> Director </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"> Michael G. Atieh </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center"> /s/ Friedrich von Bohlen und Halbach </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD>
    <TD ROWSPAN="2" STYLE="text-align: center"> Director </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"> Friedrich von Bohlen und Halbach </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center"> * </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD>
    <TD ROWSPAN="2" STYLE="text-align: center"> Director </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"> Paul Carter </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center"> * </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD>
    <TD ROWSPAN="2" STYLE="text-align: center"> Director </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"> Eliot Forster </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center"> * </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD>
    <TD ROWSPAN="2" STYLE="text-align: center"> Director </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"> Heather L. Mason </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center"> * </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD>
    <TD ROWSPAN="2" STYLE="text-align: center"> Director </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"> Adam Stone </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center"> /s/ Edward A. Sturchio </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> &nbsp; </TD>
    <TD ROWSPAN="2" STYLE="text-align: center"> Authorized Representative in the United States </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"> Edward A. Sturchio </TD>
    <TD> &nbsp; </TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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  <TR STYLE="vertical-align: top">
    <TD> * </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"> /s/ Harpreet Singh </TD>
    <TD> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%"> &nbsp; </TD>
    <TD STYLE="width: 5%"> Name: </TD>
    <TD STYLE="width: 39%"> Harpreet Singh </TD>
    <TD> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> Title: </TD>
    <TD> Attorney-in-Fact </TD>
    <TD> &nbsp; </TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>2
<FILENAME>dp155592_ex2301.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 23.1 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>Consent of Independent Registered Public Accounting Firm</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We hereby consent to the incorporation by reference in this Registration
Statement on POST-EFFECTIVE AMENDMENT NO. 2 TO FORM F-1 ON FORM F-3 of Immatics N.V. of our report dated March 30, 2021 relating to the
consolidated financial statements, which appears in Immatics N.V.&rsquo;s Annual Report on Form 20-F for the year ended December 31, 2020.
We also consent to the reference to us under the headings &ldquo;Experts&rdquo; in such Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Stuttgart, Germany</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">August 2, 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">PricewaterhouseCoopers GmbH</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Wirtschaftspr&uuml;fungsgesellschaft</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">/s/ Dietmar Eglauer</FONT></TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">/s/ ppa. Jens Rosenberger </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Wirtschaftspr&uuml;fer</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Wirtschaftspr&uuml;fer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">(German Public Auditor)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">(German Public Auditor)</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<SEQUENCE>3
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
